Axway enters into an exclusive negotiation with Sopra Steria for a planned tie-up of most of Sopra Banking Software and Axway

Feb 21, 2024 - 5 min read
Sopra Banking Software

In 1974, Sopra Group, now Sopra Steria, started its first project for a bank, Banque Laydernier in Annecy, France. Other projects followed and decades later, in 2012, Sopra Banking Software (SBS) was officially incorporated. Over these 50 years, banking has changed. Software has changed. Sopra Steria has changed. And most importantly, the needs of banks and financial institutions have changed, but our commitment to supporting our clients in their digital transformation has remained intact. As CEO of Sopra Banking Software, I have been honored to witness these changes and to serve as a steward for our customers, employees, partners, and shareholders.

Today, we open a new chapter for Sopra Banking Software. We are excited to announce that Sopra Banking Software and Axway plan to create a new software group for technology platforms and financial services software products. Axway has entered exclusive negotiations with Sopra Steria Group to acquire a significant part of Sopra Banking Software’s activities.

We are confident that this transaction will unlock value for all SBS stakeholders, offering better technology for our clients, unique career opportunities for our employees, and the necessary operational scale and investment capacity in an industry increasingly embracing Cloud and Software-as-a-Service.

Axway and SBS share a common history and much of their DNAs – both companies were born within Sopra Steria Group and embraced our Founders’ values, sharing a unique entrepreneurial culture. Both are committed to an independent and long-term project, creating value for all stakeholders: clients, employees, and investors. Axway and SBS have been partners for many years, with Axway technology enhancing SBS platforms with leading integration capabilities.

By coming together with Axway, we will collectively offer unparalleled capabilities to the financial services sector. With at-scale global operations, the newly formed entity and its product portfolio will be uniquely positioned to cater to banks’ needs in their digital transformation journey. This includes providing (i) cost-effective IT operations through cloud-native and modular core banking systems and critical differentiation through enhanced integration capabilities, (ii) world-class customer experiences through innovative digital engagement solutions, and (iii) embracing open finance and embedded finance with non-banking entities. Furthermore, the transition to a Cloud and Software-as-a-Service (SaaS) model will be a central focus of the group.

Together, Axway & SBS will remain closely linked to Sopra Steria through a renewed strategic partnership backed by a direct ownership position of Sopra Steria in the new Axway. This will allow our clients to continue accessing Sopra Steria’s unique capabilities and talents while strengthening Sopra Steria’s own capabilities as a software and solutions integrator across Europe.

We expect this to be completed by the end of 2024. We are excited to join Axway and we believe together we will continue developing cutting-edge technology and software for tomorrow’s financial services.

Eric Bierry, CEO of Sopra Banking Software

Sopra Steria Press Release
Axway Press Release