Axway is entering into discussions regarding the potential acquisition of most of Sopra Banking Software (SBS) activities.
Axway is looking at the different strategic options open to the company to ensure the success of its growth and profitability roadmap. In this respect, the acquisition of most of SBS activities would represent a unique opportunity for Axway to expand its product portfolio and continue its development by capitalising on its recent performance. SBS, a recognised provider of banking and financial software, would benefit from the scale and experience of a global software structure that has already transitioned to a subscription-based business model.
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If completed, the combination would give rise to a new enterprise software house with critical scale, able to meet banking application and integration needs with increased firepower and visibility thanks to the expertise of around 5,000 employees worldwide.
Axway would acquire the SBS activities concerned for €330m
This value is subject to confirmatory due diligence and will be reviewed by an independent expert.
Pierre Pasquier, Chairman of Axway, Sopra Steria and Sopra GMT, said: “Axway’s proposed acquisition of most of SBS’s activities represents an undeniable strategic opportunity for both companies. Together, they would consolidate values, expertise and organisations that already have a lot in common, and would mutually benefit from each other. The creation of this strong critically-sized enterprise software house would support an independent and successful entrepreneurial project over the long term.
“Furthermore, by welcoming One Equity Partners to Sopra GMT’s capital, we will be in a better position, through our role as reference shareholder, to support the combined entity in its future external growth objectives. In addition to the fact that Sopra Steria would retain a significant stake in Axway’s capital, all the operations envisaged would significantly strengthen the strategic partnership between the two Groups, particularly in financial services, and more generally in Europe, where they share a large portfolio of customers.”
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