Shares in Fidessa Group rose sharply in early morning trading up over 29% to 3,585, on the back of advanced negotiations with Temenos over a potential acquisition.
The UK-based software and services specialist is the subject of an offer from Swiss-based banking software company Temenos.
The Boards of Fidessa and Temenos have confirmed they are in advanced discussions regarding a possible all cash offer by Temenos for Fidessa.
Under the proposed terms of the deal, Fidessa shareholders would receive £35.67 in cash for each Fidessa share together with the right to receive the final and special dividends announced on 19 February 2018 with Fidessa's full-year results, which, in aggregate, are worth £0.797 per Fidessa share.
The total value of the offer is therefore £36.467 per Fidessa share.
Should a firm offer be made bt Temenos, the board of Fidessa intends to recommend its acceptance to Fidessa shareholders.