Axway Acquires Sopra Banking Software
Summary
This major step in the company’s development not only marks a change in dimension but also initiates a transformative alliance project aimed at delivering substantial value to all its stakeholders. With strong 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 c.€131m, which it combined with the securing of new credit facilities (c.€200m) from partner banks in order to finance the acquisition for an enterprise value of €330m, Axway said. 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. 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.” According to the report, the acquisition of Sopra Banking Software by the company has received approval from relevant regulatory authorities, and the integration of the two entities is beginning. Its cloud platform offers clients a composable architecture to digitize operations, ranging from banking, lending, compliance, to payments, and consumer and asset finance.
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