PARIS--(BUSINESS WIRE)--Regulatory News:
Sopra Steria (Paris:SOP), a European leader in digital transformation, today announced its plans to acquire BLUECARAT, a German IT services company.
Sopra Steria plans to acquire 100% of the share capital of BLUECARAT, a German firm providing strategic IT Consulting, Agility (including its Scrumcadamy1), Cyber/IT Security and API Management. This proposed acquisition would strengthen Sopra Steria’s position in the German market and provide the local subsidiary further growth opportunities and access to major strategic accounts.
Founded in 2001, BLUECARAT enjoys strong credibility among the clients in its concentrated portfolio, which includes leading manufacturers, financial services companies and public sector entities. With organic growth above 25%, BLUECARAT generated estimated revenue of about €33 million in 2017. If the acquisition is completed, the tie-up between BLUECARAT and Sopra Steria would help generate substantial commercial and cost synergies.
Sopra Steria, whose German subsidiary posted revenue of over €240 million for financial year 2016 and cemented its recovery by posting an operating performance in line with the Group’s standards for the first half of 2017 (operating margin on business activity above 8%) has very ambitious medium-term targets for the German market. The acquisition of BLUECARAT would thus help speed up the group’s development in Germany.
The proposed acquisition is subject to customary closing conditions. If it is completed successfully, BLUECARAT would be consolidated by Sopra Steria in the second half of 2018.
About Sopra Steria
Sopra Steria, a European leader in digital transformation, provides one
of the most complete portfolios of end-to-end service offers on the
market: consulting, systems integration, business line software
development, infrastructure management and business process services.
Sopra Steria thereby provides leading businesses and organisations with
comprehensive solutions for their growth and competitiveness. By
combining added value, innovation and high-quality services, Sopra
Steria supports its clients in making the best use of digital technology
as they move forward. With over 40,000 employees in more than 20
countries, Sopra Steria generated revenue of €3.7 billion in 2016.
Sopra Steria (SOP) is listed on Euronext Paris (Compartment A) – ISIN: FR0000050809
For more information, please visit our website: www.soprasteria.com
1 Scrum: agile methodology used for project development