Bryan, Garnier & Co leads the sale of Christie Group Plc’s subsidiary to Cegid Group

London, November 12th, 2008- Bryan, Garnier & Co, the independent pan-European Investment bank focusing on growth companies, today announced the completion of the sale of VCS Timeless, a non-core subsidiary of LSE listed Christie Group Plc, (AIM:CTG). The independent developer and vendor of software solutions dedicated to the retail sector was sold to Cegid Group (Euronext Paris: CGD), one of the Top 10 European Enterprise software providers, with over 2000 employees and €241.1 million turnover in 2007.

Bryan, Garnier & Co acted as exclusive financial advisor to the seller, Christie Group Plc.

Established in 1980, VCS Timeless has 145 employees and achieved €16 million in sales in 2007 (including €6 million in recurring contracts). The company has an installed base of 450 customers with more than 10,000 stores in 60 countries. It has a direct presence in France, the United Kingdom, Spain, Portugal, Italy and Japan and is present in the other countries via partners. Its prestigious customers include international brands such as Aeroshoes (190 stores), André (140 stores), Club Med (80 sites), Induyco / El Corte Ingles Group (225 stores), and Orchestra (500 stores).

Cegid, through its acquisition of VCS Timeless, reinforces its position as leader in the Fashion and Retail sector with pro-forma revenue of over €45mn, 1,000 brands and 20,000 stores throughout 60 countries. With the software industry consolidating, Cegid continues to pursue its external growth strategy.

Bruno Tourme, Managing Director and Head of Technology Group at Bryan, Garnier & Co, who led the transaction commented: “This deal clearly illustrates what we at Bryan Garnier & Co. are all about: short timelines, multi lingual discussion, industry expertise and strong commitment to results. Leveraging our network of senior executives and our knowledge of the retail industry was key to this transaction which  represents the latest in over a dozen Software sector M&A and financing transactions worldwide over the past 24 months.”

Professionals involved in this transaction:

Bruno Tourme / Managing Director / Head of Technology Group – Corporate Finance

Xavier de Lecaros-Aquise / Senior Analyst – Corporate Finance