2008 New Ventures BC Top 10 company Primisyn has been acquired by Temenos, a market-leading provider of banking software based in Geneva, Switzerland. The acquisition took place late last month and the price was not disclosed.

Based in Delta, BC, Primisyn provides business intelligence (BI) and profitability solutions and services to the Canadian credit union market. Primisyn’s Simplus Enterprise Suite provides credit unions with business critical information to facilitate informed decision making and streamline business processes in every department across the organisation including finance, marketing, operations, human resources, and risk management.

Temenos will integrate Simplus into its existing BI solution, Insight, extending the product offering into customer analytics and enhancing the operational intelligence functionality.

The total acquisition price consists of an up-front consideration and further payments contingent on Primisyn achieving performance criteria.

Todd Winship, co-founder of Primisyn said “This is a very exciting event for Primisyn. Our product has enjoyed a broad acceptance and strong growth in the Canadian market, with seven of British Columbia’s top 20 credit unions as our customers. By uniting with Temenos we will contribute to a larger, very dynamic BI solution, to the benefit of our mutual and future customers.”

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