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Temenos sells non-banking part of jBase to Zumasys

Temenos has offloaded the non-banking part of the jBase database business. The acquirer is US-based Zumasys, a cloud computing specialist.

The sale does not affect any users of T24 that run their core system on jBase. The vendor has stated to IBS that it will ‘continue to support and maintain the product’ and that it continues to own its IP. ‘There have been no personnel transfers as part of the deal, and all knowledge and resources remain with Temenos,’ the vendor’s spokesperson goes on to say. ‘All existing T24 users remain contracted to Temenos and this will not change. There is no impact on the terms or prices.’

When jBase software was acquired by Temenos back in 1999, it came with two versions, one for the Temenos clients (TAFC, which stands for ‘Temenos application framework for C’) and one for non-T24 customers outside the banking sector (via a distributor). Temenos supported both after the acquisition. In addition to buying the non-T24 part of jBase, Zumasys has also purchased the distribution rights from the distributer.

‘Temenos’ focus is on banking, and the part of jBase that has been sold relates to non-banking clients. This deal means that any non-banking obligations and risk is removed from the business,’ says the spokesperson. ‘It ensures that future development and support is domain centric.’

However, the jBase database is not offered to new customers, and all new sales are made on third party database offerings (e.g. Oracle, Microsoft and IBM). As for the existing jBase users, the vendor reassures that it ‘will continue to support the product indefinitely’, but suggests that they can move to an alternative platform should they wish to upgrade.

By Tanya Andreasyan

 

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