- Misys
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Misys 
Type Public (LSE: MSY) Founded 1979 Headquarters London, UK Key people Sir James Crosby, (Chairman)
Mike Lawrie, (CEO)Products Software Revenue £782.3 million (2010)[1] Operating income £114.3 million (2010)[1] Net income £61.4 million (2010)[1] Employees 6,130 (2010)[1] Website www.misys.com Misys plc (LSE: MSY) is a business that makes and sells software to banking, investment, and, formerly, to medical businesses. The company merged its healthcare information technology division with Allscripts in 2008. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Contents
History
The company was founded in 1979 as a computer systems supplier to UK insurance brokers.[2] In 1987 its shares were first traded on the Unlisted Securities Market. It was admitted to the Main List of the London Stock Exchange in 1989. The company started in the late 1970s under the name of BIS Ltd and had bought in a software package from a London based International Bank they then named MIDAS. This banking software system was based on a concept of a core multi-currency accounting module (at the time all other International Banks worldwide worked and accounted on a 'single currency' methodology). It was marketed to and operated successfully by a number of client London Banks from 1979. From the mid to late-1980s lesser competition to MIDAS came from two other separate software vendors with systems called Kapiti and IBIS. BIS/Misys in acquiring 'Kapiti' as a strategic purchase raised MIDAS to the market leader for 'off-the'shelf' banking software. In 1997 it bought Medic Computer Systems, a healthcare software business.[3] In 2001 it went on to buy DBS Management plc, a supplier of software to Independent Financial Advisors,[4] and Sunquest Information Systems Inc., a US supplier of clinical systems software [5] and later sold the same in 2007[6]
In 2004 the company bought IQ Financial Systems from Deutsche Bank for £20m.[7]
In March 2007 newly appointed CEO Mike Lawrie set out a new three- to five-year strategy to turn around and improve the financial operating performance of the company.[8]
In March 2008 the company announced a merger between its healthcare business and Allscripts, a medical records business. The merger was completed on 10 October 2008, and Misys plc now holds a majority shareholding in the merged entity known as Allscripts-Misys Healthcare Solutions, Inc, which is listed on the NASDAQ (MDRX).[9] In June 2010, Allscripts announced a merger with Eclipsys Corporation, and that the Misys stake in Allscripts was to be reduced through a share buyback and secondary offering.[10]
On 12 November 2010, Misys announced that is had reached an agreement to acquire Sophis, a leading provider of portfolio and risk management software.[11]
Operations
The company's software is used as follows:[12]
Misys Banking is the specialist banking solutions business within Misys plc with a customer base across retail banking, corporate and wholesale banking.
Misys Treasury & Capital Markets (TCM) creates integrated solutions for financial institutions to manage their capital market activities across multiple asset classes.
Misys Open Source Solutions (MOSS) creates products to service the financial and healthcare industries. Its first two projects are in the areas of Carbon Trading and Health Information Exchanges (HIEs). The source-code for any "Misys Open Source Solutions" products has never been released.[13]
References
- ^ a b c d Annual Report 2010
- ^ Kevin Lomax's rise and fall
- ^ Misys pays heavily for tonic
- ^ Misys buys DBS to boost advice arm
- ^ Mysis buys Sunquest for £286 million to tighten US hold
- ^ Misys Sells Off Sunquest, CPR, Exiting the Hospital Systems Business
- ^ Misys buys Deutsche IT for $40m
- ^ Mysis chief blames predecessors and unveils recovery strategy
- ^ Merger update
- ^ http://investor.allscripts.com/phoenix.zhtml?c=112727&p=irol-newsArticle&ID=1436097
- ^ Misys to Buy Software Vendor Sophis for $593 Million Bloomberg, 12 November 2010
- ^ Misys: Solutions
- ^ Misys aims to open source healthcare, but forgets the source
External links
- Official site
- ZDNet: Can open source make Mike Lawrie a winner?
- ZDNet: How big a place for Misys open source in healthcare?
Categories:- Companies listed on the London Stock Exchange
- Software companies of the United Kingdom
- Companies based in London
- Companies established in 1979
- Financial software companies
- Banking software companies
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