Consolidation into Group’s accounts to begin Q2 2016Image may be NSFW.
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On May 3, Sopra-Steria announced the completion of its acquisition, through its subsidiary Sopra Banking Software, of 75% of the share capital of Cassiopae, a leading global supplier of specialty finance and property management software. Cassiopae will be consolidated into the Group’s accounts as of the second quarter of 2016. The announcement was part of Sopra Steria’s Q1 2016 financials press release.
The planned tie-up between the two companies was first announced on February 25, 2016.
Cassiopae’s founder and his family, and certain managers including current Chairman, Emmanuel Gillet, will retain about 25% of the share capital. A subsequent acquisition of that 25% is envisioned for 2020 at the latest.
“We look forward to being part of Sopra and to the new opportunities we will create together on behalf of our clients, employees, and partners around the world,” said Gillet.
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 and business process services. Sopra Steria is trusted by leading private and public-sector organizations to deliver successful transformation programs that address their most complex and critical business challenges. Combining high quality and performance services, and added value and innovation, Sopra Steria enables its clients to make the best use of digital technology. With more than 36,000 employees in 20 countries, Sopra Steria had pro forma revenue of €3.4 billion in 2014.
Sopra Steria (SOP) is listed on Euronext Paris (Compartment A) – ISIN: FR0000050809
For more information, please visit: www.soprasteria.com
