Sopra to acquire C&W majority stake

Sopra to acquire C&W majority stake

French IT group Sopra has agreed to buy a majority stake in Belgian banking software vendor Callataÿ & Wouters (C&W). Financial terms were not disclosed.

Founded in 1986, with a 600-strong workforce, C&W claims around 40 customers in 15 countries for Thaler, its core banking product. The firm posted revenues of around EUR80 million in 2011.

Sopra says it will merge C&W's Thaler banking software package with its own Evolan business, creating a new unit in which it will hold a 90% stake.

News of the deal comes just days after Sopra agreed to buy the UK financial services product business of Nordic vendor Tieto as well as the UK subsidiary of Business & Decision.

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