Sopra Banking Software, a wholly owned subsidiary of France based IT multinational, Sopra group has announced to buy 100% stake of COR&FJA Banking Solutions GmbH.
The COR&FGA AG is a German based consultancy companies for Banking and Financial Services companies and Company pension scheme provider. Apart from technical support and consultancy services, COR&FGA also provides high performance software products. Company's Banking Solutions covers all functionalities across retail and private banks' financial needs apart from services and software for automotive and mortgage finance institutions. GmbH generated revenue of €23.3 million during financial year 2012.
Sopra group is a leader in consultancy services and financial solutions across Europe. Sopra Banking Software follows the legendary path of parent company. It is the preferred solution for over 500 customers across 70 countries. Company's all seven products are highly preferred and deemed to be industry standard.
The proposed transaction values €13 million and will be paid in cash. The transaction has been approved by Board of Directors. It is expected to be as per Sopra Group's strategy for 2015 - 30% of group's revenue from software development. The offer is based on locally developed products ideally suited for German market. This acquisition is expected to increase client base for Sopra Financial Solutions and enhance the quality and services offered under GmbH and add value and innovation in existing product offerings.
The COR&FGA AG is a German based consultancy companies for Banking and Financial Services companies and Company pension scheme provider. Apart from technical support and consultancy services, COR&FGA also provides high performance software products. Company's Banking Solutions covers all functionalities across retail and private banks' financial needs apart from services and software for automotive and mortgage finance institutions. GmbH generated revenue of €23.3 million during financial year 2012.
Sopra group is a leader in consultancy services and financial solutions across Europe. Sopra Banking Software follows the legendary path of parent company. It is the preferred solution for over 500 customers across 70 countries. Company's all seven products are highly preferred and deemed to be industry standard.
The proposed transaction values €13 million and will be paid in cash. The transaction has been approved by Board of Directors. It is expected to be as per Sopra Group's strategy for 2015 - 30% of group's revenue from software development. The offer is based on locally developed products ideally suited for German market. This acquisition is expected to increase client base for Sopra Financial Solutions and enhance the quality and services offered under GmbH and add value and innovation in existing product offerings.
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