Swiss company acquires Avoka for $245M
BROOMFIELD — Avoka, an Australian banking-software company whose U.S. headquarters is based in Broomfield, has sold to a Swiss company for $245 million.
Temenos (SIX: TEMN), based in Geneva, has agreed to purchase Avoka, including the Avoka (USA) Inc. Broomfield subsidiary. Avoka provides customer-acquisition and onboarding software to financial-services, government and other clients.
The purchase is subject to regulatory approvals and is expected to close in the first quarter of 2019.
Avoka has more than 85 clients that are mainly served through a software-as-a-service model, serving the retail, corporate and wealth-management sectors of the banking industry. The company has 270 employees in the…
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