Sopra Steria: towards acquisition of SAB
(CercleFinance.com) - Sopra Steria has announced its project, through its subsidiary Sopra Banking Software, to acquire SAB, one of the leading publishers of core banking software in France, first by taking a majority share in the capital and then, after one year, the remaining supplement of up to 100%.
SAB has over two hundred references, most of which are retail banks. In 2018, the company generated sales of 64.4 million euros, much of which was recurrent, and more than three quarters of its business in France.
This deal would participate in Sopra Banking Software's project to return - as from 2020 - to historical levels of operating profitability. The planned acquisition of SAB is subject to the customary conditions for its completion.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
SAB has over two hundred references, most of which are retail banks. In 2018, the company generated sales of 64.4 million euros, much of which was recurrent, and more than three quarters of its business in France.
This deal would participate in Sopra Banking Software's project to return - as from 2020 - to historical levels of operating profitability. The planned acquisition of SAB is subject to the customary conditions for its completion.
Copyright (c) 2019 CercleFinance.com. All rights reserved.