Buy-side is an industry term that refers to institutional investors such as mutual and pension funds. Sell-side refers to brokers and other organizations that make commissions from stock sales.
The purchase price for Sophis includes ?273 million in equity value plus ?162 million in net debt held by Sophis, according to a statement. Another ?5 million may be payable upon the deal's closing.
With the acquisition, Misys will become "the number one application software and services provider in capital markets," the statement adds.
Misys, a London company founded in 1979, is "a real survivor," having refocused its business multiple times over the years, said 451 Group analyst China Martens via e-mail.
One potential suitor for Sophis was Oracle, which has been making a series of vertical acquisitions. If Oracle does decide to make a similar purchase, it can choose from Sophis competitors like Calypso and Murex, Martens said.
