Sopra Group finalises two acquisitions in the United Kingdom
Paris, 14 March 2012 – Sopra Group (NYSE Euronext: SOP) announced today the finalisation of two acquisitions in the United Kingdom. The UK subsidiary of Tieto Corporation, specialised in financial services, and the UK subsidiary of Business & Decision have joined the Group.
Sopra Group has acquired the entire share capital of the UK subsidiaries of B&D and Tieto. The transactions were carried out in cash. Both companies will be consolidated in the Group’s financial statements as of 1 March 2012.
These transactions greatly reinforce Sopra Group’s presence in the UK and are perfectly in line with the announced strategy of reinforcing positioning in Europe and better aligning its European subsidiaries’ business models with the operational business model in place in France (consulting, IT services, software solutions) in order to capitalise on synergies and Group know-how.
On completion of the transactions, the new entity will offer its UK and European clients a wide array of know-how, services and solutions, ranging from innovative service delivery in targeted vertical segments to the distribution of software solutions for the financial services sector. These transactions will also enhance the Group’s capacity to provide services on an international scale.
Sopra Group expects these transactions to be accretive. Given the highly complementary nature of the businesses, the Group anticipates synergies through both revenue growth and cost savings.
On a pro forma basis, Sopra Group’s UK subsidiary would have generated revenue of around €106 million in 2011.
The financial terms of these transactions have not been disclosed.
About Sopra Group
A leader in the European consulting, IT services and software development markets, Sopra Group generated revenue of 1.050 billion euros in 2011 and employs over 13,000 people. Thanks to a longstanding culture of excellence and strong sector-specific, functional and technological know-how, the Group offers its clients an end to end approach based on a well-honed business model. Sopra Group’s ambition is to allow its clients to successfully execute transformation projects that will give them a competitive edge and help them drive growth. Sopra Group’s savoir-faire encompasses prior strategic reflection through to the supervision and implementation of major IT and software programmes. For more information, please visit our website www.sopragroup.com.
