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Axway in discussions to buy most of Sopra Steria's SBS unit for 330 million euros

Reuters
·1-min read

(Reuters) - French software company Axway said on Wednesday it had started discussions to potentially buy most of Sopra Banking Software activities from Sopra Steria.

Axway would acquire the activities based on an enterprise value of 330 million euros ($357 million), it said in a statement.

Axway plans to finance the transaction by combining a capital increase of about 130 million euros with preferential subscription rights, along with new debt facilities for the balance.

It has obtained a "comfort" letter from Société Générale and Groupe Crédit Agricole, two of its relationship banks, Axway said in a statement.

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"All the operations envisaged would significantly strengthen the strategic partnership between the two Groups, particularly in financial services, and more generally in Europe," Pierre Pasquier, chairman of Axway, Sopra Steria and Sopra GMT said in the statement.

($1 = 0.9253 euros)

(Reporting by Olivier Sorgho and Lina Golovnya; Editing by Kirsten Donovan and Emelia Sithole-Matarise)