SOFP Completes Vipera Acquisition.

On July 3rd 2018, having successfully exceeded 90% acceptances in respect of the offer for Vipera shares by Sella Open Fintech Platform S.p.A., SOFP announced that the offer was unconditional in all respects.

In moving to complete the acquisition, SOFP is today issuing Compulsory Acquisition Notices to the remaining shareholders who have not yet accepted the offer, and tomorrow Vipera plc will be delisted from London Stock Exchange’s Alternative Investment Market (AIM).

Also today, the Board of Sella Open Fintech Platform S.p.A. announced that their shareholders have voted to rename SOFP as Fabrick S.p.A.

Vipera as part of Fabrick.

As well as continuing to grow its business through its own customer and partner network, Vipera will now also be positioned to exploit the synergies and opportunities that being part of Fabrick creates.

Fabrick is a rapidly growing financial ecosystem that enables and fosters collaboration between its members to create innovative solutions for end-customers through the access and use of standardised APIs on a specialist platform.

The results of a recent qualitative focus group of European bankers (led by Deloitte and presented at Money20/20) showed that 90% of respondents had a clear awareness of the fact that Open Banking can be a positive factor in the development of their business model. An equally important finding was the respondents’ interest in collaborations with third parties (reported by 88%).

Fabrick answers these new needs. And Vipera will have a central role in meeting them.

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Marco Casartelli CEO of Vipera and Deputy CEO of Fabrick commented: “Being a co-founding member of Fabrick represents a strategically important opportunity for Vipera. The banking sector is entering a new paradigm where success is dependent on a collaborative approach between banks and third parties. Open Banking platforms such as Fabrick also bring the barriers to entry in the sector crashing down. In this highly competitive environment, being part of Fabrick will position us to exploit a wide range of new opportunities. It’s a very exciting time.”

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