First announced at the end of February, Axway's proposed acquisition of Sopra Banking Software was made possible by the successful execution of several critical financing deals, including a share capital increase with preferential subscription rights for a gross amount of c.€131m, combined with the securing of new credit facilities of €200 million from partner banks.
The combined company will comprise 5000 employees and will be led by Axway's Patrick Donovan as CEO and Sopra's Eric Bierry as deputy CEO.
With the consolidation of the two firms underway, Axway is targeting a 2025 ambition of c.€700m revenue and c.€100m profit on operating activities. By 2027, Axway is striving to achieve revenue above €750m and a margin on operating activities of more than 17%. By 2028, the group is aiming for a margin on operating activities at around 20% of revenue.
Says Donovan: "The completion of the tie-up between Axway and Sopra Banking Software embodies a unique development opportunity, and the ambitious industrial project we have been working towards can finally come to life. We will be fully committed to this project and I am convinced that, together, our teams will achieve outstanding success. The operational work begins now."
Sourced from Finextra