Temenos surges as EQT said to consider bid

Temenos shares surged on Wednesday following a report that Swedish buyout firm EQT is considering a potential acquisition of the Swiss banking software specialist.

Bloomberg cited sources as saying that EQT is in the early stages of considering a bid for Temenos, which has a market value of CHF9.1bn.

According to data compiled by Bloomberg, if EQT does take Temenos private, it would be one of the biggest buyouts involving a listed European company this year.

Sources told Bloomberg there’s no certainty EQT will decide to proceed with a move for Temenos.

At 0930 BST, Temenos shares were up 7.3% at CHF131.80.