Statement from the Competition Council regarding the economic concentration project concerning the acquisition of exclusive control of the company “Sopra Banking Software SA” and its subsidiaries in Morocco by the company “Axway Software SA”, through the acquisition of 80% of its share capital and related voting rights.

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this statement does not confirm the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition, as amended and supplemented.

Names of the companies and groups involved:

• The acquirer: the company “Axway Software SA”;
• The target: the company “Sopra Banking Software SA”.

Nature of the operation

• Acquisition of exclusive control.

Economic sectors concerned

• Information technology services.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this statement, i.e. May 13, 2024.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation under which the company “Axway Software S.A.” intends to acquire exclusive control of the company “Sopra Banking Software S.A.” and its subsidiaries in Morocco through the acquisition of 80% of its capital and related voting rights.

The acquirer, “Axway Software S.A.”, is a French public limited company with its registered office at PAE les Glaisins, 3 rue du Pré Faucon Annecy-le-Vieux – 74940 – Annecy, registered with the Annecy Trade and Companies Register under number 433 977 980. The acquirer is listed on Euronext Paris. The company is active in the information technology services market.

The seller, “Sopra Steria Group”, is a French public limited company with a share capital of 20,547,701 euros, whose registered office is located at PAE Les Glaisins – Annecy le Vieux – 74940 Annecy, registered with the Annecy Trade and Companies Register under number 326 820 065. The company is active in the information technology services market.

The target, “Sopra Banking Software S.A.”, is a French public limited company with a capital of 161,866,820.00 euros, whose registered office is located at Les Glaisins 74940 Annecy and registered with the Annecy Trade Register under number B 450 792 999.
The target company has four subsidiaries in Morocco, “Sopra Banking Software Morocco”, “SAB Atlas”, “Banking Software Morocco”, and “Steria Medshore”, all active in the information technology services market.

“Sopra Banking Software S.A.” and its subsidiaries provide application software to banks and financial institutions.

 

Done in Rabat on May 2, 2024