oftware giant Misys is poised to dip into its £50m war chest to scoop M&E Network and Interdependence in a £25m deal.
Misys, which already owns 900-member Countrywide and splashed out £55m in August for IFA networks Financial Options and Kestrel, is understood to be mounting a £25m buy-out bid for the two Greatminster Group-owned networks.
Money Marketing can reveal that top-level talks between Misys and Greatminster Group which owns both M&E and Interdependence, have been taking place since May and are now at an advanced stage.
A heads of agreement contract, which will give Misys permission to formally analyse the networks, is expected to be signed in the next week and teams from the software company are aiming to complete due diligence before Christmas.
If the deal goes ahead, Misys will see its number of registered individuals crash through the 4,000 barrier and its number of member firms swell to 1,900.
Misys's five networks combined dwarf DBS, the UK's second largest network, by more than 1,600 RIs.
Misys corporate communications director Alastair MacDonald says: “We are an acquisitive company so our name is the first to come to people's minds but we never comment on specific discussions.
“We will be looking to increase our presence in the IFA network sector. It's an important sector for us.”
Both M&E Network and Interdependence refused to confirm whether they are in discussion with Misys, saying they never comment on market speculation.