Formed in the early 1980s, Fidessa’s rapid growth before the financial crisis slowed in the subsequent decade as its customers consolidated and regulation came into force that restricted the trading activities of its investment banking customers. However, shares hit a record high after the company reported full-year results on Monday, with analysts forecasting that margins could improve from 2019 when current spending to prepare for Mifid II rules and a move into the derivatives market slows.  Fidessa chairman John Hamer said it was “strongly positioned to benefit from the strategic and regulatory changes in its markets” but that the offer from Temenos represented “a very attractive and immediate return to our shareholders”.

https://www.ft.com/content/79089ed6-16d6-11e8-9376-4a6390addb44