SoftBank and Telstra are both set to exit digital banking technology developer Kony in an acquisition by Temenos that comes after about $113m of funding.
Banking software producer Temenos agreed yesterday to pay at least $559m to acquire Kony, a US-based mobile banking software developer backed by telecommunications firms SoftBank and Telstra.
The deal consists of $559m upfront, in addition to a $21m earn-out. The transaction is subject to regulatory approvals and is expected to close early in the fourth quarter of 2019.
Founded in 2008, Kony operates a cloud-based platform that allows enterprise clients to develop and deploy applications that enable customers to perform…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
