Misys Group Plc, the UK’s biggest software company, is in the market to buy more companies in the US, with targets in both the financial and healthcare sectors. At the top of the list is a company that offers a retail banking system, where Misys has no offering in the US to complement its other financial packages. It would not be feasible to develop a product from scratch, explained a Misys official.
The other area where Misys is anxious to expand its empire is the medical market. The $922m acquisition in 1997 of Medic Computer Systems Inc, a supplier of application software packages to physicians in the US, has given it about 15% market share. Though the remainder is highly fragmented, Misys is on the lookout for companies that will enable it to build its presence and enjoy economies of scale. There is room for further consolidation, an executive explained.
