European digital transformation leader Sophia Steria, signed an exclusive negotiation agreement with a view to acquiring a controlling interest in Sodifrance, a French digital services company with 2019 revenues of €106.5m.
The planned acquisition of Sodifrance aims to create a leading French player in digital services for insurers and social security providers. Sopra Steria has significant ambitions in this sector, which has strong growth potential.
The acquisition of a controlling interest, corresponding to 94.03% of Sodifrance’s share capital, will be fully paid in cash and will enable Sopra Steria to submit a Public Offer. This Public Offer will be followed by a mandatory delisting procedure for the remaining shares in circulation.
Sopra Steria, a European leader in consulting, digital services and software development, helps its clients drive their digital transformation and obtain tangible and sustainable benefits. It provides end-to-end solutions to make large companies and organisations more competitive by combining in-depth knowledge of a wide range of business sectors and innovative technologies with a fully collaborative approach. Sopra Steria places people at the heart of everything it does and is committed to making the most of digital technology to build a positive future for its clients. With 46,000 employees in 25 countries, the Group generated revenues of €4.4 billion in 2019.
Founded in 1986, Sodifrance is a French digital services company with 2019 revenues of €106.5m, half of which is generated in the Paris region and the remainder throughout the rest of the country, a third of which in western France. With 1,160 employees, the company has substantial expertise in the insurance and pensions/social security/health sector (50% of revenues) for key accounts. It also has a strong presence in the banking sector (21% of revenues).
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Acting as Sole Financial Advisor to Sopra Steria Bryan, Garnier & Co assisted Sopra Steria throughout all the critical phases of the process including valuation, due diligences and negotiations, and also provided continuous intelligence regarding the competitive environment of the transaction.
This transaction demonstrates Bryan, Garnier & Co’s expertise and track record in the technology services sector. Other notable transactions include the sale of a minority stake of Intys to Omnes Capital, the sale of Canon Business Services to ASC Investment, the sale of Xerox Research Center Europe to Naver and the sale of Lexsi to Orange.