Sopra Steria Completes Acquisition of Galitt
November 07 2017 - 12:00PM
Business Wire
Regulatory News:
Sopra Steria (Paris:SOP) (Euronext Paris: SOP), a European
leader in digital transformation, announced today that it has
completed its acquisition of Galitt, a consulting and solutions
development firm in the payment systems and secure transactions
market.
As stated in the 31 August 2017 press release announcing the
proposed acquisition, Sopra Steria has acquired 88.2% of the shares
and voting rights in Tecfit, the holding company of Galitt, which
until now had been exclusively owned by its founder and long-term
managers. A subsequent acquisition of minority stakes by Sopra
Steria is envisioned for 2021 at the latest.
This acquisition strengthens Sopra Steria’s position in the
banking vertical and will allow Galitt to step up its growth plans,
both in France and internationally. In addition, Galitt will be
able to leverage Sopra Steria’s vertical expertise to expand its
scope of business to new sectors, including retail and transport,
while generating substantial sales and revenue synergies with the
Group’s various entities, and especially with Sopra Banking
Software.
With 250 employees and over 400 clients, Galitt generated
revenue of €30.8 million in 2016.
Galitt will be included in Sopra Steria’s scope of consolidation
retroactively, at 1 November 2017.
About Sopra Steria
Sopra Steria, a European leader in digital transformation,
provides one of the most comprehensive portfolios of offerings on
the market, spanning consulting, systems integration,
industry-specific solutions, infrastructure management and business
process services. It provides end-to-end solutions to address the
core business needs of large companies and organisations, helping
them remain competitive and grow. Combining added value with
innovative high-performance services, Sopra Steria excels in
guiding its clients through their transformation projects to help
them make the most of digital technology. 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: FR0000050809For more information,
please visit our website: www.soprasteria.com
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Investor Relations:Sopra Steria GroupOlivier Psaume, +33
(0)1 40 67 68 16olivier.psaume@soprasteria.comorPress
Relations:Image 7Simon Zaks, +33 (0)1 53 70 74
63szaks@image7.fr