In order to fund the acquisition—which was first disclosed in February—Axway raised its share capital by €131 million this summer and obtained fresh credit lines from partner banks totaling €200 million.

After receiving regulatory permission, Axway states that "the integration of the two entities is beginning" and that the months of late 2024 and early 2025 would be "instrumental in the ramp-up of the new group."

During this time, Eric Bierry, the CEO of SBS, will also become the deputy CEO of Axway, reporting to Patrick Donovan, the group CEO. Additionally, SBS will undergo a rebranding, with an announcement of the new identity expected in October.

SBS, which was established in 2012 and has its headquarters in Paris, presently provides digital software solutions for banking, lending, compliance, payments, and consumer and asset finance to around 1,500 financial institutions, such as KCB Bank, Newbury Building Society, and Scolaris Finance.

Axway claims that the purchase would position the company as “one of France’s top enterprise software publishers.” Axway specializes in offering MFT software and API-driven B2B integration in addition to its Axway Amplify open API management platform.

Donovan believes that with the sale closed, "the ambitious industrial project we have been working towards can finally come to life," calling it "a pivotal moment in our company's history" and "a unique development opportunity."

According to Bierry, the agreement offers "a major opportunity to accelerate our value creation for all our stakeholders through a new group of critical size with tenfold capabilities" and "significantly strengthens our positions, offerings, technologies, and perspectives."