Banking software maker, Temenos Group AG (based in Switzerland) has entered into a binding scheme implementation deed to acquire Australian fintech company, Rubik Financial Ltd
(ASX:RFL).
Rubik’s board has unanimously recommended that its shareholders vote in favour of this scheme.
Under this scheme, Temenos will acquire all the issued capital in Rubik at 16.67 cents per share in cash. Rubik will be valued around $68 million under this deal.
Rubik was a trading halt yesterday and last traded at 11 cents per share.
The company posted a net loss of $2.7 million at 30 June 2016.
