22 October 2017

Sopra Steria raises its stake in Cassipae to 100%

27 January 2017  |  2240 views  |  0 Source: Sopra

Sopra Steria (SOP.PA) (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, 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.

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