Advised Multifonds, a leading global provider of fund administration software, on its sale to Temenos Group AG (SIX: TEMN) 
– IGEFI Group (“Multifonds”) is a Luxembourg-based provider of fund administration technology and services
– The company’s integrated solution is used by nine of the top 15 institutions in third-party fund administration
– The platform allows fund administrators to perform key accounting functions such as intra-day valuations and end-of-day NAV calculations as well as to support fund administrators in investor servicing and transfer agency functions such as investor dealing and record keeping
– Multifonds has more than 470 employees in 14 offices around the world
– Prior to the acquisition, Multifonds was a portfolio company of Summit Partners
– Temenos Group AG (“Temenos”) is a leading provider of banking software systems to retail, corporate, universal, private, Islamic, microfinance and community banks, wealth managers and other financial institutions
– Over 2,000 firms across the globe, including 38 of the top 50 banks, rely on Temenos to process the daily transactions of more than 500 million banking customers
– Founded in 1993 and listed on the Swiss Stock Exchange (SIX: TEMN), the company operates from 57 offices worldwide and its software solutions are proven in over 1,600 installations across 150 countries
– The acquisition of Multifonds provides Temenos with exposure to the fast growing fund administration market segment as well as client relationships with 30 of the world’s largest financial institutions
– Besides its 10%+ growth, Multifonds also provides Temenos with a higher percentage of recurring revenue
– Combined proposition of Temenos’s securities processing, custody and enterprise data management functionality with Multifonds’ fund accounting platform creates a complete, integrated fund management solution
– Under new strategic ownership, Multifonds will be able to leverage Temenos’s large sales and marketing, partner and R&D infrastructure to continue to further refine its best-of-breed product while accelerating growth
– Arma Partners forged a close relationship with Multifonds over several years, also advising the Company on its recapitalisation, including an equity investment by Summit Partners in 2006
– Arma Partners supported Multifonds and its shareholders throughout the exit process, including financial analysis, positioning, valuation, interactions with counterparties, and led negotiations on transaction terms
– Arma Partners was able to generate significant competitive tension for the asset to enable a value optimising outcome with a high-profile strategic buyer
– Overall, Arma Partners assisted Multifonds and Summit in realising their strategic objectives, drawing on Arma’s extensive experience in the Financial Technology sector