Swiss banking software company Temenos offloads asset administration business to Montagu Private Equity.
Highlights:
- Sale Announcement: Temenos has sold its asset administration business, Multifonds, to Montagu Private Equity for $400 million.
- Strategic Move: The sale aligns with Temenos’ new strategic plan to simplify its product portfolio and drive above-market growth.
- Future Plans: The transaction is expected to be completed in Q2 2025, with Montagu working closely with the Multifonds executive team to ensure a smooth transition.
Summary: Swiss banking software company Temenos has announced the sale of its asset administration business, Multifonds, to Montagu Private Equity for $400 million. The deal, expected to be completed in Q2 2025, is part of Temenos’ strategic plan to simplify its product portfolio and focus on driving above-market growth.
Montagu Private Equity, an established investor in the fund administration technology space, will work closely with the Multifonds executive team to ensure a smooth transition and continued high levels of service for customers.
