Business Services Industry
Sopra Group Announces Its Planned Acquisition of G2i, Thus Reinforcing Its Positioning in the Aerospace Sector
Business Wire, Dec 20, 2007
PARIS -- Regulatory News:
Sopra Group (Paris:SOP) has announced its planned acquisition, in cash, of the entire share capital of G2i. This proposal, which is subject to the outcome of the Works' Council consultation, in accordance with legal provisions, should be finalised in early 2008, subject to the standard conditions precedent. The company will then be consolidated in the Group's financial statements as of 1 January 2008.
G2i provides consulting and services in the area of embedded software and testing resources for the aerospace industry, primarily for Airbus. G2i forecasts 2007 revenue of around 4 million euros.
For Sopra Group, this acquisition forms part of its stated strategy of underpinning its positioning in France by developing its positions with major clients.
For G2i, this partnership with Sopra Group will give it access to a much broader project, allowing it to optimise developments in its current offering and secure its client base.
The financial terms of this transaction have not been disclosed.
About G2i
A specialist in technical and IT engineering, G2i has developed its business in the aerospace vertical market, particularly with Airbus, where the company has acquired strong expertise in system testing. G2i, whose share capital is owned by Gerard Hernandez, will generate revenue in 2007 of around 4 million euros.
About Sopra Group
A leader in the European consulting and IT services market, Sopra Group generated revenue of EU897.7 million in 2006 and has a human and intellectual resource potential of over 10,000 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 focus on 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 systems integration and application outsourcing projects. The Group also pursues the worldwide deployment of its activities in both application integration and business process management through its subsidiary Axway, the world's leading provider of Collaborative Business Solutions, with a complete range of solutions and services. For more information, please go to our website www.sopragroup.com.
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