Fidessa confirms Ion Investment Group, SS&C Technologies as new suitors

Fidessa has confirmed the identities of two third parties that are considering making an offer for the financial technology group that trumps the one made by Switzerland's Temenos in February.

Ion Investment Group is one of the parties, while SS&C Technologies Inc is the other.

Fidessa said earlier in the week that under the terms of Ion's offer, its shareholders would receive £38.927 per share in cash and dividends, which is a 5% premium to the Temenos bid, which would see shareholders receive £36.467 per share, comprising £35.67 in cash and the £0.797 dividend.

No proposed terms have been received from SS&C at this stage.

Fidessa said earlier in the week that discussions were ongoing but there can be no certainty that a formal bid from either party will be forthcoming or as to the terms of any such offer.

As a result, it has adjourned meetings called for 5 April to approve the Temenos offer "in order to explore in more detail" the possible alternative offers.

Temenos' offer is still valid for now but will need to be approved by 27 April.

At 0818 BST, Fidessa shares were up 1.2% to 4,075p.