GENEVA, Switzerland 16 March 2010 – Temenos (SIX: TEMN), the market-leading provider of integrated core banking systems, today announces the disposal of the commodities business of Viveo Switzerland to Brady plc. The commodities business was acquired as part of the Viveo acquisition announced in December last year. The consideration received for the business, which was modestly loss-making in 2009, was CHF3.8m (USD3.5m).

The business being sold is the commodities trading software unit of Viveo Group, the French market leader in core banking systems that was acquired by Temenos for USD81m at the end of 2009. This unit, based in Geneva, had revenues in 2009 of approximately USD3.4m and made a very modest loss before tax. The cash consideration to be paid for the business is CHF3.80m, around USD3.5m.

Commenting on the disposal, Max Chuard, Director of M&A and Investor Relations, says: “While the commodities unit of Viveo was soundly run and has good prospects, Temenos is a single domain company. Strategically, therefore, this disposal will free up management time and resources time to focus on the core banking market. It is, in addition, marginally accretive to earnings in 2010.”