Sopra Banking Software acquires 100% stake in Cassiopae

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Verdict Staff

January 30, 2017

News

Sopra Banking Software acquires 100% stake in Cassiopae

By Verdict Staff January 30, 2017

Sopra Banking Software, a subsidiary of Sopra Steria, has raised its stake in financial software provider Cassiopae’s holding company KSEOP to 100%.

Cassiopae, which develops specialised finance and property management software, became part of Sopra in 2016.

Sopra initially bought 75% stake in KSEOP, and planned to buy the remaining stake by 2020. The 25% stake was till now owned Cassiopae’s historic shareholders.

Sopra said that increasing its stake strengthens its position as a benchmark operator in the financial services software market.

“More generally, this transaction enables Sopra Steria to pursue its growth targets in the banking and software development sector, two of the Group’s top growth priorities for the upcoming financial years,” Sopra said.

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