on SOPRA GROUP (EPA:SOP)
Sopra Steria Completes Sale of Sopra Banking Software Activities
Sopra Steria, a significant player in the European tech landscape, announced the finalisation of the sale of most of Sopra Banking Software’s activities. This move aligns with the company's strategic refocusing on digital services and solutions, initially declared on 21 February 2024.
The sale follows the disposal of 3.619 million Axway shares to Sopra GMT on 19 July 2024, and the pre-emptive subscription rights in Axway’s capital increase on 26 July 2024. These transactions have generated a total of €410.5 million by the end of H1 2024. Despite the sales, Sopra Steria retains an 11.1% stake in Axway’s share capital.
The activities sold, which generated €336.3 million in revenue in 2023, were classified as discontinued operations under IFRS 5 in Sopra Steria’s H1 2024 financial report. The company will publish its Q3 2024 revenue on 31 October 2024.
R. P.
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