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Sopra Steria (Euronext Paris: SOP) (Paris:SOP), a European tech leader, has signed a share purchase agreement with a view to acquiring Assua NV and its operating subsidiaries, Tobania NV and Python Predictions BV.
Sopra Steria’s proposed acquisition of Tobania is aimed at establishing a leading position in the Belgian digital services market. The tie-up between the two parties would enable the Group to join the ranks of major players in one of Europe’s key strategic markets. The Belgian market is attractive due to its size, the number of key accounts in the private sector (particularly financial services), the public sector and the presence of EU institutions.
Sopra Steria and the two historical founders, Lode Peeters and Etienne Schreurs – equal shareholders of Assua NV – have signed a share purchase agreement pursuant to which Sopra Steria Benelux NV will acquire 100% of the shares in the holding company Assua NV and, indirectly, in its operating subsidiaries, Tobania NV and Python Predictions BV (altogether, Tobania).
Established in 2014 following the acquisition of Saga Consulting NV (founded in 1990 by Etienne Schreurs) by Tobius NV (founded in 2006 by Lode Peeters), Tobania is a digital consultancy and services company. Tobania has 650 employees, with its head office in Grimbergen, and is expected to generate €110 million in revenue in 2022. All revenue is generated in Belgium: 45% in the financial services and insurance sector, 15% in the public sector and 18% in telecommunications & media.
This highly complementary tie-up would expand the Group’s coverage of the Belgian market (French- and Dutch-speaking areas), double its market share to make it one of the main market players (with combined revenue of more than €200 million), and unlock commercial and operational synergies.
Lode Peeters, Chief Executive Officer and joint shareholder of Assua NV, commented: “The planned tie-up between Tobiana and Sopra Steria brings us into a new phase of our development.It would enable us to expand our coverage of the Belgian market, accelerate our growth and provide even more value to our customers while offering attractive opportunities to our employees.”
Michel Lorgeré, Chief Executive Officer of Sopra Steria Benelux, added: “I’m excited about the plan we have mapped out with Tobania.It’s an opportunity to carve out a new leading position in Belgium from two fast-growing companies with a wealth of culture and expertise that will complement each other effectively to cater to the Belgian market as a whole.”
Cyril Malargé, Chief Executive Officer of Sopra Steria Group, commented: “This planned tie-up is perfectly aligned with our development strategy. It would allow us to strengthen our positions in strategic European markets by capitalising on our target verticals and a key accounts strategy. It also ties in with our initiatives aimed at cultivating the entrepreneurial model that sets us apart.”
The acquisition is subject to the approval of the Belgian Competition Authority and is currently expected to be finalised in the first quarter of 2023.
About Sopra Steria
Sopra Steria, a European leader in the field of technology, renowned for its 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 putting digital to work for its clients in order to build a positive future for all. With 47,000 employees in nearly 30 countries, the Group generated revenue of €4.7 billion in 2021.
The world is how we shape it.
Sopra Steria (SOP) is listed on Euronext Paris (Compartment A) – ISIN: FR0000050809
For more information, visit us at www.soprasteria.com
