Temenos Sells Multifonds to Montagu Private Equity 

Montagu will be paying approximately $400M for the fund administration software provider.The banking software company Temenos is selling its fund administration software business Multifonds to Montagu Private Equity for approximately $400 million including an earnout, as part of Temenos’ initiative to streamline its offerings, officials say.The Multifonds executive management team has invested in the company to be overseen by Montagu, officials add. Temenos’s headquarters are in the village of Grand-Lancy, part of Geneva, Switzerland, while Multfonds is based in Strassen, Luxembourg.“The sale of Multifonds simplifies the Temenos product portfolio and aligns with Temenos’ new strategic and operational plan to drive above-market growth as presented at the Capital Markets Day in November 2024,” according to the announcement. “Simplifying and rationalizing the product portfolio enables Temenos to focus on its three growth levers of extending market leadership in ‘best of suite,’ enhancing modular core solutions, and accelerating adjacent point solutions.”The Multifonds fund administration software is intended to be used for increased operational efficiency risk reduction and can be applied to “all asset classes across multiple jurisdictions,” officials say. The software has been used by fund administrators, asset managers, insurance companies, and pension funds.“Montagu is an established investor in the fund administration technology space and will work with the Multifonds executive team to ensure its customers continue to receive the highest levels of service,” according to the announcement. “Temenos will support Montagu and Multifonds to ensure a seamless transition.”The sale is subject to the satisfaction of customary closing conditions and is expected to be completed during the second quarter of this year.“Temenos will provide further details on the impact of the sale on the outlook for 2025 as part of the announcement of its Q4 and FY-24 results, which will take place after market close on February 18, 2025,” officials say.Need a Reprint?