Misys
Encyclopedia
Misys plc 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
.
insurance broker
s. 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. In 2001 it went on to buy DBS Management plc, a supplier of software to Independent Financial Advisors, and Sunquest Information Systems Inc., a US
supplier of clinical systems software and later sold the same in 2007
In 2004 the company bought IQ Financial Systems from Deutsche Bank
for £20m.
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.
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). 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.
On 12 November 2010, Misys announced that is had reached an agreement to acquire Sophis
, a leading provider of portfolio and risk management software.
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.
Allscripts
Allscripts Healthcare Solutions, Inc. is a publicly traded American company that provides physician practices, hospitals, and other healthcare providers with practice management and electronic health record technology, including electronic prescribing, care management, and revenue cycle software...
in 2008. It is listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
.
History
The company was founded in 1979 as a computer systems supplier to UKUnited Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
insurance broker
Insurance broker
An insurance broker finds sources for contracts of insurance on behalf of their customers. The three largest insurance brokers in the world, by revenue, are Aon, Marsh & McLennan, and Willis Group Holdings.-Purpose of insurance brokers:...
s. In 1987 its shares were first traded on the Unlisted Securities Market
Unlisted Securities Market
The Unlisted Securities Market , which ran from 1980 to 1996, was a stock exchange set up by the London Stock Exchange to cater for companies too small to qualify for a full listing....
. It was admitted to the Main List of the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
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. In 2001 it went on to buy DBS Management plc, a supplier of software to Independent Financial Advisors, and Sunquest Information Systems Inc., a US
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
supplier of clinical systems software and later sold the same in 2007
In 2004 the company bought IQ Financial Systems from Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
for £20m.
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.
In March 2008 the company announced a merger between its healthcare business and Allscripts
Allscripts
Allscripts Healthcare Solutions, Inc. is a publicly traded American company that provides physician practices, hospitals, and other healthcare providers with practice management and electronic health record technology, including electronic prescribing, care management, and revenue cycle software...
, 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
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
(MDRX). 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.
On 12 November 2010, Misys announced that is had reached an agreement to acquire Sophis
Sophis
Sophis is an international information technology company, providing software systems to financial institutions. The company develops software solutions for the requirements of investment banks, asset managers, family offices, hedge funds, corporates and insurances...
, a leading provider of portfolio and risk management software.
Operations
The company's software is used as follows: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.