Misys shares jumped 19 per cent to 266.5p after the company agreed to break itself up by selling the majority of its 54.6 per cent stake in US healthcare business Allscripts.
The deal will see Misys receive $1.3bn (£900m) cash, most of which will be returned to shareholders via a tender offer. This represents a massive return on investment on its Allscripts stake, having paid just $330m in 2008. Shedding the healthcare arm also means Misys can concentrate on its banking and treasury markets software. While its third-quarter trading update on 8 April revealed treasury sales growth being offset by a slower banking recovery, investors have been crying out for a streamlined business model, believing that the shares have been dogged in the past by a conglomerate discount.
