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Spring 2000
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International banking software house TEMENOS has announced that it has acquired jBASE Software.
TEMENOS is a leader in the international banking software industry. Its product, GLOBUS, serves as an enterprise platform for financial organisations throughout the world and TEMENOS was rated as the industry sales leader in April 1999. TEMENOS counts many of the world’s premier banks among its clients. According to George Koukis, Chairman of TEMENOS: “The decision to merge the strengths of both companies was based on our strong belief in jBASE’s future potential as a standalone product as well as the synergetic value of a jBASE/GLOBUS solution.” Koukis continues: “We believe jBASE not only provides the most advanced conversion and database management tools in the MultiValue world, but also provides distinct advantages over other leading database products.”
TEMENOS is committed to working with jBASE to ensure that both the company and product have every opportunity to reach their full potential. “We are very enthusiastic about the future that TEMENOS makes possible,” states Dave Bryant, President of jBASE Software Inc. “Plans are already in place to increase the number of jBASE staff, to accelerate research and development in emerging technologies, to leverage TEMENOS’ world wide presence, and to embark on more extensive Value Added Reseller and user support activities.” JBASE Software will operate as a separate business unit of TEMENOS, and will continue using the current product and company name.
TEMENOS has over 200 clients worldwide including many of the world’s premier banks. Current clients include American Express Bank, Credit Suisse Private Banking, and Lloyds TSB group. Fiscal Year 1999 (year ended June 30) revenues were US$43.6 million (an increase of 109% over the previous year) and net income was US$4.9 million. TEMENOS headquarters is located in Geneva, Switzerland, and has additional offices in Bangkok, Beirut, Chennai, Hong Kong, London, Luxembourg, Miami, Munich, New York and Singapore.
jBASE Software LimitedLast Updated: 01 May 2000