Temenos acquires Kony for $559mn

Temenos has agreed to acquire UK-based digital banking SaaS company Kony.

In Brief:

• Temenos is a banking software company headquartered in Switzerland.

• It will buy Kony for an enterprise value of $559mn and an earnout of $21mn.

• Kony currently works to help banks transform the client experience.

What does this mean?

It’s hoped Kony will help Temenos to scale within the US as well as adding digital expertise.

Read more here.