Temenos to buy VC-backed Kony

Temenos, a banking software company, has agreed to acquire Kony for an enterprise value of US$559 million and an earnout of US $21 million. Kony Inc is a digital banking SaaS company. The deal is expected to close in the fourth quarter of this year. Kony's backers included SoftBank Capital, Insight Venture Partners, Georgian Partners, a Canadian venture capital firm, as well as Telstra Venture, Delta-V and Hamilton Lane.

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