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Fidessa Group Investors - FDSA

Share Name	Share Symbol	Market	Stock Type
Fidessa Group	FDSA	London	Ordinary Share

	Price Change	Price Change %	Share Price	Last Trade
	0.00	0.00%	3,865.00	01:00:00

Open Price	Low Price	High Price	Close Price	Previous Close
			3,865.00	3,865.00

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Top Investor Posts

Top Posts
Posted at 03/4/2018 16:04 by whitestone Last-minute bidders look to crash Temenos bid for Fidessa Shares in software group climb 11% on disclosure of two new potential bidders Cat Rutter Pooley in London Fidessa, the UK financial technology company that has accepted a takeover offer from the Swiss banking software group Temenos, has received interest from two other possible bidders, delaying a shareholder meeting to seal the deal. Both of the other approaches were at a premium to the £1.4bn Temenos bid, Fidessa said, with one possible bid at a 5 per cent premium to the Swiss deal. Shares in the company soared 11 per cent in early afternoon trading to £40.70 a piece — well above the level of the latest bid — as investors speculated on the outcome of a takeover fight between Temenos and its as-yet unnamed rivals. One of the new offers, while not confirmed, could give FTSE 250 member Fidessa shareholders £37.50 a share in cash plus the dividend of 79.7p, Fidessa said on Tuesday. Temenos’ offer, agreed on February 21, gave investors £35.67 in cash plus the dividend. Fidessa gave no details about the terms of the other possible bid. The deal for the trading technology business followed pressure from the activist investor Elliott Capital Advisors, which built close to a 5 per cent stake in Fidessa in the belief it had not been run as efficiently as equivalent software businesses, people with direct knowledge of the situation previously told the Financial Times. The agreement with Temenos was due to be put to an investor vote on April 5 after receiving the backing of Fidessa’s board in February. While there was no certainty a formal offer would be made by either of the companies looking to crash the deal, Fidessa said it had concluded that it was in shareholders’ best interests to postpone the court meeting to sign off the takeover by Temenos “in order to explore in more detail the possible alternative offers”. “Discussions with the third parties are ongoing and there can be no certainty that a formal offer from either will be forthcoming or as to the terms of any such offer,” Fidessa said. Temenos’ offer still stands for now, but has to be approved by April 27 under the terms of the deal. The Takeover Panel will set a deadline for the unnamed bidders to either confirm their bids or step away from Fidessa. Read Full Thread Reply
Posted at 21/2/2018 16:56 by whitestone Fidessa accepts accepts Temenos bid as Elliot buys shares in UK company Trading technology business recommends offer as hedge fund builds a near-5% stake Nic Fildes in London AN HOUR AGO 0 Activist hedge fund Elliott Capital Advisors has bought a near-5 per cent stake in Fidessa, after the UK financial technology company agreed to a £1.4bn cash takeover by Swiss banking software group Temenos. The news helped send Fidessa’s shares up more than 7 per cent to a record high of £38.30, well above than the £35.67 takeover price, as investors bet that Elliot’s involvement could force a more lucrative offer from Temenos or another bidder. Fidessa’s shares have gained 42 per cent over the course of three days. The company, which provides market data and trade processing technology to investment banks and fund managers, said its board would unanimously back the Temenos bid, which valued it at more than £1.3bn. Both sides said the deal would “yield significant benefits through efficiencies and cross-selling opportunities”. John Hamer, chairman of Fidessa, said the company was well positioned to grow as an independent entity but the bid represented “a very attractive and immediate return to our shareholders”. Temenos tried to buy Misys, another UK banking software stalwart, earlier this decade but the Fidessa deal surprised analysts as it radically diversifies the business and is pitched well above its $1bn acquisition war chest. Andreas Andreades, Temenos’s executive chairman, said the deal was justified by the structural change in the capital markets sector that will require companies to overhaul their technology assets. “We truly believe that this powerful combination will accelerate both companies’ complementary growth strategies in banking and capital markets and will enable us to cross-sell into our existing client bases and capture a greater share of the IT and software spend of banks, especially as they move to the cloud,” he said. Elliott declined to comment. Andrew Darley, an analyst with FinnCap, said that the activist may be “second guessing” that a counter bidder such as Ion Trading or a private equity buyer may emerge to outbid Temenos. He added, however, that Temenos had already agreed a full valuation for the company, with the offer pitched at a 37 per cent premium to its closing price. Mr Darley said that the sale represented a “graceful exit” for a company that had grown from a £46.7m business when it was floated as Royalblue in 1997 to a “£1.4bn behemoth”. Peter Roe, an analyst with TechMarketView, said that the Temenos tie-up would bolster Fidessa’s prospects but that the sale represents another blow to the listed UK technology scene. “It looks as if the business will retain significant autonomy and should benefit from the scale, expertise and collective research and development of the Temenos organisation. It is just such a pity that the London markets again lose a tech champion,” he said. Read Full Thread Reply
Posted at 21/2/2018 16:41 by whitestone Fidessa trades above Temenos offer price in £1.4bn acquisition after Elliott Capital discloses stake Jasper Jolly Banking technology firm Temenos today agreed a £1.4bn acquisition with London headquarterd software firm Fidessa, with shares trading above the offered price after Elliott Capital Advisors disclosed an increased stake. The firms today announced the deal had been agreed after the two firms announced the takeover was at an advanced stage yesterday following big share price moves at the start of the week. Fidessa investors will receive £35.67 per share, while the firm will also pay a special dividend of 79.7p in June. The price represents a premium of approximately 37 per cent to the closing price at the end of last week. However, shares traded at £38.85 per share at the time of writing after private equity heavyweight Elliott Capital Advisors this morning disclosed a 4.87 per cent shareholding. Elliott has previously agitated for higher acquisition prices, including in Anheuser-Busch InBev’s offer for rival drinks maker SAB Miller and troubled Steinhoff’s bid for discount retailer Poundland. In the announcement Temenos said the deal was "a compelling opportunity to create a global leader in financial services software", adding there would be $60m in annual cost synergies. Fidessa was advised by Rothschild, Jefferies, and Numis, while Temenos was advised by Credit Suisse. John Hamer, Fidessa chairman, said the deal would give "a very attractive and immediate return to our shareholders". Temenos has agreed a loan of up to £1.43bn to finance the transaction, and said it will turn to capital markets before or shortly after completing the deal to raise the cash. Read Full Thread Reply
Posted at 18/2/2014 09:29 by whitestone February 17, 2014 2:39 pm Fidessa aims to take advantage of US swaps trading reform By Philip Stafford Fidessa is looking to exploit impending changes to US swaps trading as the UK trading technology company looks to its fast-growing derivatives business to underpin growth. The group is talking to customers about providing tools for trading the over-the-counter swaps market as it looks to reduce its reliance on the fortunes of share dealings of banks and investors. Chris Aspinwall, chief executive, said on Monday he expected strong growth and continued investment in the coming year at Fidessa's derivatives unit. Boosted by three large deals, turnover at the business more than doubled in the year to December 31, becoming nearly 5 per cent of group revenues. Many of Fidessa's bank and fund manager customers failed, merged or pressed for fee cuts in the wake of the financial crisis. In response, Fidessa has pushed into new markets like derivatives, Asia and outsourced hosting of trading. Mr Aspinwall said many of its customers were seeing the first uptick in business in five years, with "first real improvement since the start of the financial crisis". US rules coming into effect this week have mandated that swaps, the most popular type of over-the-counter derivative, be traded on electronic exchanges. The majority of the market is currently traded on the telephone. More than 20 venues have sprung up in the US aiming to exploit the changes. Many expect the swaps market to adopt trading practices in the equities market. They include so-called sponsored access, whereby a clearing broker allows an investor to directly buy or sell a swap on a venue. Other market participants are considering a tool that will "aggregate" all quotes for a particular product, so investors do not miss the best price. "The sponsored access model and the aggregated tools will play a part," said Mr Aspinwall. "We're working with people in the market to work out the best route." Analysts said Fidessa was implying underlying revenue growth of around 5 per cent in 2014 from its comments. "Given the improving backdrop, we expect management to ramp up investment particularly in derivatives and as a result we are lowering profit forecasts around 5 per cent," said David Toms, an analyst at Numis Securities. He added that profits would likely remain flat amid the investment and continued pressure on prices. For the year to December 31, revenue was flat at £279m while pre-tax profit rose 3 per cent to £43.1m. The group paid out another special dividend of 45p per share, while its final dividend was flat at 37p per share. At the height of the market boom in 2007, Fidessa was recording annual revenue and profit increases of around 20 per cent. Read Full Thread Reply
Posted at 28/3/2011 14:50 by slowandsteady Hello, Does anyone know of a Share Dealing ISA that I can have without a UK address? I'm moving to New Zealand soon and Interactive Investor (iii) don't let you keep their ISA. HMRC do allow you to have one but you can't pay new funds into it. Apologies for the off topic and if you've seen this message on another BB but I've added it to all my active stocks. Thanks, S Read Full Thread Reply

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