Sopra Banking Software Strengthens its Footprint in Tunisia
Sopra Banking Software, a subsidiary of the Sopra Steria Group (Euronext Paris: SOP), announces its acquisition of Cassiopae MEA.
Sopra Banking Software today announced its acquisition of outstanding shares in the Cassiopae MEA joint venture, and is thus increasing its stake from 45% to 100% of capital.
Cassiopae MEA was until now jointly owned by its CEO, Mr Jemil Benromdhane, and the Tunisian Group Wevioo. The French-Tunisian joint venture was established in 2010 with the aim of accelerating deployment, and ensuring the long-term presence, of Cassiopae’s products in fast-developing African and Middle Eastern markets.
This acquisition, officially announced today in Tunis during the Tunisia 2020 International Investment Conference, in the presence of Mr Fadhel Abdelkefi, Tunisian Minister of Development and International Cooperation, will enable Sopra Banking Software to strengthen its local presence and to create a new development platform in the country.
Eric Pasquier, Sopra Banking Software CEO and Member of the Board of Directors of Sopra Steria, stated that ‘Sopra Banking Software’s and Cassiopae’s offers are extremely complementary, and the acquisition of Cassiopae MEA boosts our development strategy in key zones, such as Africa and the Middle East, where the Group has big ambitions.’
About Sopra Banking Software
Sopra Banking Software is a global leader in software, integration, support and advice services more than 600 banks and financial institutions in over 70 countries. Its goal is to accompany clients in their business growth and international strategies through a long-term partnership approach, supported by the dedication of close to over 3,000 skilled experts. Sopra Banking Software is a subsidiary of Sopra Steria, European leader in digital transformation. Sopra Steria provides one of the most comprehensive portfolios of end to end service offerings in the market: Consulting, Systems Integration, Software Development, Infrastructure Management and Business Process Services. With 38,000 employees in over 20 countries, Sopra Steria had pro forma revenue of €3.6 billion in 2015.