Axway completes acquisition of Sopra Banking Software. Source: Shutterstock.com

Axway has announced the successful completion of the acquisition of Sopra Banking Software.

First announced at the end of February, Axway’s proposed acquisition of Sopra Banking Software was made possible by the successful execution of several critical operations in recent months.

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With support from its shareholders and the addition of new investors, over the summer the company carried out a share capital increase with preferential subscription rights for a gross amount of €131m, which it combined with the securing of new credit facilities (€200m) from partner banks, in order to finance the acquisition for an enterprise value of €330m.

The completion of the acquisition has received the approval of the relevant regulatory authorities and the integration of the two entities is beginning

The latter part of 2024 and into 2025 will be vital in the ramp-up of the new Group and will enable the expected cost optimisations to materialise.

Patrick Donovan, Chief Executive Officer, said: “We are at a pivotal moment in our company’s history. The completion of the tie-up between Axway and Sopra Banking Software embodies a unique development opportunity, and the ambitious industrial project we have been working towards can finally come to life. We will be fully committed to this project and I am convinced that, together, our teams will achieve outstanding success.

“Our brands are strong, our flagship products are recognized among the best in their markets, and our customer-centric business model, refined over several years of transformation, has proven its effectiveness. The operational work begins now, with the unwavering priority for both Axway and Sopra Banking Software remaining, as always, the success of our customers’ projects.”

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Eric Bierry, Deputy Chief Executive Officer, added: “We are incredibly excited to be part of creating a new global powerhouse in enterprise software. Our industry-leading technology platforms and business software have a long and successful track record of driving the transformation of some of the world’s largest banking and financial institutions, and this alliance significantly strengthens our positions, offerings, technologies and perspectives.

“This operation provides a major opportunity to accelerate our value creation for all our stakeholders through a new Group of critical size with tenfold capabilities. I am particularly pleased that our 5,000 employees, from 26 countries around the world, are seeing our entrepreneurial culture thrive through a project filled with compelling opportunities.”