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Morning round up | Published on 12/11/10
Misys to buy Sophis and we review a strong quarter for UK mobile operators
Never one to stand still for long, Misys has announced this morning the proposed acquisition of capital markets software vendor Sophis for an enterprise value of €435m. Misys is proposing to buy the company from mid market PE house Advent International which originally invested in the company in July 2007. Sophis provides multi-asset class risk management software to both buy and sell-side institutions and generated revenues of €74m in 2009 and operating profits of €30m; an impressive margin of over 40%. From a strategic perspective this looks like a sensible deal for Misys but we have two worries. Premium subscribers can read our first thoughts on the deal in Newswire Plus.
UK mobile operators enjoy best quarter for some time
On most measures, the UK’s three main mobile networks operators had their best quarter for some time, with stronger subscriber, ARPU and revenue trends than previously. O2 remains in top spot in terms of growth and profitability, though Vodafone is gaining ground and Everything Everywhere’s Q3 was substantially better than its Q2 (Premium Plus readers see here). Despite the improvement, the UK is clearly suffering a lack of network investment compared to other European markets due to its lower profitability. Read our full review in Newswire Plus.
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