Sopra Steria Raises its Stake in Cassiopae to 100%
- M&A Deals
- 27.01.2017 10:45 am
Sopra Steria (Paris:SOP) (Euronext Paris: SOP), a European leader in digital transformation, announced today that it had raised its stake in Cassiopae’s holding company KSEOP to 100% through its subsidiary Sopra Banking Software.
Sopra Banking Software had previously acquired 75% of KSEOP (see 24 February 2016 press release), and had planned to acquire the remaining shares by 2020.
Confirming the strategic interest of a tie-up between the two companies, today the various stakeholders finalised Sopra Banking Software’s acquisition of 25% of KSEOP’s share capital, which until then had been held by its historic shareholders. The already-promising synergies generated by the integration will gain further momentum.
Cassiopae, a leading developer of specialised finance and property management solutions, substantially bolsters Sopra Banking Software’s position as a benchmark operator in the market for dedicated financial services software.
More generally, this transaction enables Sopra Steria to pursue its growth targets in the banking and software development sector, two of the Group’s top growth priorities for the upcoming financial years.