Fisker (TG:FIS)
Historical Stock Chart

From Jun 2019 to Jun 2024

Swiss banking software firm Temenos Group AG (TEMN.EB) said Wednesday its contract with its partner Metavante Technologies Inc. (MV) remains intact, even if Fidelity National Information Services Inc. (FIS) goes ahead with its plan to buy Metavante.

"The contract between Temenos and Metavante concerning the joint development and marketing of Temenos Corebanking in the U.S. is binding upon both parties and assigns to successors in the case of either party being acquired," Temenos said in a statement.

Earlier Wednesday, Fidelity National Information Services said it agreed to acquire Metavante, a provider of processing services to financial institutions, in a stock deal valued at $2.94 billion.

In February 2007, Temenos and Metavante entered a strategic agreement to jointly develop and market an advanced core banking platform based on Temenos Corebanking to be targeted at top-tier U.S. financial institutions.

The agreement gives exclusivity to Metavante to market the jointly-developed product in the U.S. and entitles Temenos to certain minimum royalty payments until 2012.

Company Web sites: www.temenos.com; www.metavante.com; www.fidelityinfoservices.com

-By Julia Mengewein, Dow Jones Newswires; +41 43 443 80 45; julia.mengewein@dowjones.com