Axway completes €330m acquisition of Sopra Banking Software
French-American IT company Axway has successfully completed its acquisition of Sopra Banking Software (SBS) from Sopra Steria for €330 million.
Axway acquires SBS for €330m
To finance the acquisition, which was initially announced back in February, Axway completed a €131 million share capital increase this summer and secured €200 million worth of new credit facilities from partner banks.
With regulatory approval granted, Axway confirms that “the integration of the two entities is beginning”, with late 2024 through to 2025 identified as “instrumental in the ramp-up of the new group”.
This period will also see the transition of SBS CEO Eric Bierry to deputy CEO of Axway, reporting to group chief executive Patrick Donovan, as well as the rebranding of SBS, with a new identity set to be announced in October.
Founded in 2012 and headquartered in Paris, SBS currently supports approximately 1,500 financial institutions – including KCB Bank, Newbury Building Society and Scolaris Finance – with digital software solutions spanning banking, lending, compliance, payments, and consumer and asset finance.
Axway, which specialises in providing API-driven B2B integration and MFT software alongside its Axway Amplify open API management platform, says the acquisition will establish the group as “one of France’s top enterprise software publishers”.
Describing the deal as “a unique development opportunity” and “a pivotal moment in our company’s history”, Donovan says that now the deal has been finalised, “the ambitious industrial project we have been working towards can finally come to life”.
For Bierry, the alliance “significantly strengthens our positions, offerings, technologies and perspectives”, and provides “a major opportunity to accelerate our value creation for all our stakeholders through a new group of critical size with tenfold capabilities”.
