Kapiti Parent Misys Will Buy Strapped Citydesk Vendor ACT
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U.K.-based software holding company Misys PLC has moved to acquire ACT Group PLC, a vendor of the Citydesk trading room digital data distribution system, among numerous other products. Misys already owns Kapiti PLC, a competing vendor of trading room data distribution and banking software systems. Though headquartered in the U.K., both Kapiti and ACT market their products in the U.S., as well.
Misys and ACT signed an agreement on what the two are calling a "merger" less than two weeks ago. Once
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