Axway completes acquisition of Sopra Banking Software

Axway has officially completed the acquisition of Sopra Banking Software (SBS), establishing one of France’s leading enterprise software publishers, particularly in the banking and financial services sectors. This landmark deal, valued at €330 million, marks a significant expansion for Axway.

The acquisition was first announced in February 2024, and following months of strategic operations—including a successful share capital increase of approximately €131 million and securing new credit facilities worth €200 million—the deal has now received approval from relevant regulatory authorities. The newly formed entity will be led by Patrick Donovan, CEO of Axway, with SBS’s Eric Bierry stepping into the role of Deputy CEO.

“The completion of the tie-up between Axway and Sopra Banking Software embodies a unique development opportunity, and the ambitious industrial project we have been working towards can finally come to life. We will be fully committed to this project, and I am convinced that, together, our teams will achieve outstanding success.

“Our brands are strong, our flagship products are recognized among the best in their markets, and our customer-centric business model, refined over several years of transformation, has proven its effectiveness. The operational work begins now, with the unwavering priority for both Axway and Sopra Banking Software remaining, as always, the success of our customers’ projects.”

The integration of SBS into Axway’s operations is set to begin immediately, with the latter part of 2024 and early 2025 expected to be critical for achieving cost optimizations and scaling the new group. Axway has set ambitious financial targets, aiming for revenue of approximately €460 million in 2024 with an operating margin of 13% to 17%.

Looking ahead to 2025, the company aims to reach around €700 million in revenue and a profit on operating activities of around €100 million, reflecting full realisation of expected cost savings. By 2027, Axway targets revenue exceeding €750 million and aims to achieve a margin on operating activities of over 17%. The company’s long-term goal is to achieve a margin of around 20% by 2028.

The acquisition brings together two companies with a shared vision and a strong entrepreneurial culture. With a workforce of 5,000 employees across 26 countries, the new group is poised to leverage its combined strengths to drive innovation and value creation in the enterprise software market.

“Our industry-leading technology platforms and business software have a long and successful track record of driving the transformation of some of the world’s largest banking and financial institutions. This alliance significantly strengthens our positions, offerings, technologies, and perspectives.”