Sopra Steria raises its stake in Cassiopae to 100%
Sopra Steria (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.
About Sopra Steria
Sopra Steria, a European leader in digital transformation, provides one of the most comprehensive portfolios of end-to-end service offerings on the market: consulting, systems integration, software development, infrastructure management and business process services. It provides end-to-end solutions to address the core business needs of large companies and organisations, helping them remain competitive and grow. Combining added value with innovative high-performance services, Sopra Steria excels in guiding its clients through their transformation projects to help them make the most of digital technology. With over 38,000 employees in more than 20 countries, Sopra Steria had revenue of €3.6 billion in 2015.
Sopra Steria (SOP) is listed on Euronext Paris (Compartment A) – ISIN: FR0000050809 For more information, please visit our website: www.soprasteria.com