THE American software giant Sungard has registered its interest in acquiring Misys, its quoted British rival that is worth just over £1 billion.

The move could threaten a proposed management buyout led by Kevin Lomax, the company’s abrasive chief executive. Sungard was acquired last August by a consortium of buyout firms for $11.4 billion (£6.1 billion) in one of the largest private-equity deals to date.

The US firm is understood to have contacted JP Morgan Cazenove, the investment bank that is advising Misys’s independent directors. Although Sungard has yet to indicate a potential price, any takeover would be likely to value Misys at well above its current market capitalisation.

The American group’s interest pits it against Lomax, who is seeking backing from a consortium of private-equity groups. He has held talks with several, including Permira and General Atlantic. Lomax and unnamed colleagues are being advised by Morgan Stanley.

Misys — which has endured a troubled recent past — specialises in developing software for the healthcare and banking industries. This year it abandoned its plans to sell Sesame, the division that provides support services to British financial advisers.

Lomax’s reputation has also suffered after he became embroiled in a boardroom battle at Marks & Spencer, where he is about to stand down as the senior independent director.

Lomax, who opposed Paul Myners’s continued tenure as chairman at the high-street retailer, has also clashed with investors over remuneration at Misys. He is now said to have become disillusioned with life at the helm of a public company.

The Sungard consortium that could now thwart Lomax’s efforts to take Misys private is led by Silver Lake Partners, a specialist technology investor. Misys declined to comment this weekend.

Lomax was a founding investor in Misys just over a quarter of a century ago. Since then it has grown into a company that turns over £1 billion and employs more than 6,500 people in 120 countries.

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