Sopra Banking Software are planning to acquire about 75% of French lease and loans administration solutions provider Cassiopae, it has been announced. It is anticipated that the remaining 25% will be acquired by 2020.
Cassiopae provides lease and loan administration systems in over 40 countries worldwide. The organisation's best known clients include Societe Generale Equipment Finance in France, and other countries. In the UK their clients include Aldermore Asset Finance.
Banking is one of Sopra Steria’s largest markets and a strategic growth priority. Its subsidiary Sopra Banking Software is aiming to double its 2014 revenue of €271 million over the next five years. Sopra Steria acquired Tieto in 2012, another financial services software provider with a lease and loan administration solution, ICS.
Cassiopae’s founder and his family and certain managers, including Emmanuel Gillet (pictured above), will retain about 25% of the share capital”.
More to follow.
