New funding alert from our member Temenos, innovators in accelerating SME banking. The following summary about the $559 million acquisition was written by Temenos.

Key Points About the Acquisition

• The acquisition accelerates Temenos’ growth in the US bringing substantial scale, digital expertise and increased market presence.
• Temenos is best placed to capture the growing digital front office banking software addressable market which is USD 9 billion in the US and USD 23 billion worldwide.
• Kony’s award-winning digital banking experience product will strengthen Temenos Infinity, as the richest and most technologically advanced digital banking product with unmatched digital expertise.
• Temenos Infinity is available natively on any cloud, as a SaaS offering or on-premise and can be connected to any core software.
• All Kony customers to benefit from continuous investment and innovation.
• Temenos strengthens its Executive Committee with the appointment of Thomas E. Hogan, Chairman and Chief Executive Officer, Kony, a seasoned US leader to become the President of Temenos North America.

You can even look at the Kony acquisition investor presentation in the full article, here.