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Temenos denies acquisition approaches amid analyst speculation

temenosTemenos had its ‘sell’ rating reiterated by Goldman Sachs analysts in a research report issued to clients last Thursday, January 18th, Marketbeat Ratings reported.

Temenos said Friday said it has not been approached by anyone seeking to buy the Swiss banking software group following speculation a deal might be on the cards

In a statement, it said: “Temenos has not been approached to be acquired nor is it in discussion to do so. Temenos continues to leverage the strength of its business model and unique value proposition of packaged, upgradeable and open banking software to capture its significant market opportunity, support its clients in achieving their digital ambitions and to deliver outstanding returns for its shareholders. Temenos’ market leadership position, award-winning products, customer references and exceptional people provide the platform on which it will continue to redefine the way banking is done in the 21st century.

Shares in the group turned down following the statement, falling by 4.9 percent at 1000 GMT. They had risen to a high of 144.1 CHF on Thursday, an 18.1 percent increase from Wednesday’s close. As of today, the share price stands at 119.70 CFH.

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