Fin/tech: Temenos' new US HQ in Malvern fits 500
Swiss software maker's "ambitious growth strategy"
In the year and a half since its acquisition, Switzerland-based bank-software maker Temenos has boosted employment at the Malvern-based credit union software maker formerly known as Akcelerant to 160, from 130 when Temenos bought the then-$15 million (yearly sales) firm last year for $50 million upfront (plus growth credits).
Now Temenos has moved the business, founded in 2000 by Jay Mossman, from its old offices at 100 Lindenwood Dr. to what is now Temenos' new North American headquarters at the E. Kahn Development Corp.-J. Loew Associates-owned (CORRECTED), two-story, red-brick-fronted building at 40 General Warren Blvd. Mossman is now Temenos' CEO for North America.
At an opening rally Thursday, CEO David Arnott promised staff "an ambitious growth strategy." Temenos expects to employ 500 at the site by 2021.