Axway plummets on talks with Sopra Steria

(CercleFinance.com) - Axway Software is down 11% after announcing that it has entered into exclusive discussions to acquire most of Sopra Banking Software's activities, representing around 340 million euros in sales, for an enterprise value of 330 million.


This decision is accompanied by the proposed sale to Sopra GMT, Axway's controlling shareholder, of approximately 3.6 million Axway shares currently held by Sopra Steria at a price of 26.5 euros per share, as well as Sopra Steria's residual preferential subscription rights.

Furthermore, in line with its preliminary announcement, Axway has published net income for 2023 of 35.8 million euros, with an operating margin up by five points to 19.7%, on revenue of 319 million, with organic growth of 5.8%.

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