Sopra Steria adds 1,100 employees in France with Sodifrance deal

Having entered exclusive negotiations in February, Sopra Steria and Sodifrance have now sealed their deal. 

Global digital powerhouse Sopra Steria, a €4.4 billion company listed on the Euronext in Paris, has acquired 94% of the share capital of Sodifrance, for an amount that is reportedly worth around €60 million.

The deal adds approximately 1,160 employees across 11 locations in France to Sopra Steria’s footprint in France, lifting its domestic headcount to over 20,000 employees. Globally, the consulting, digital services and software development company now has over 47,000 employees.

Cyril Malargé, the boss of Sopra Steria in France, said that the deal will boost Sopra Steria’s depth and breadth of digital services, in particular in the key markets of insurance and social security. “I’m excited about the plan we have mapped out with Sodifrance.”

Founded in 1986, Sodifrance has grown into one of France’s larger companies dedicated to digital transformation, helping clients with building IT applications and infrastructures, software development, modernising legacy information systems, cloud-based working and cybersecurity offerings. Sodifrance provides consultancy services, but most of its business comes from IT delivery, systems integration and IT managed services. 

Around half of its revenues stem from four sectors: insurance, pensions, social security and healthcare. The firm also has a strong presence in the banking sector, which represents one fifth of the group’s €106 million revenue base (2019).

Franck Mazin, Chairman of Sodifrance and the company’s main shareholder, said: “This strategic tie-up brings us into a new phase in our development, with an ambitious business plan that will let us offer even more value to our clients and bright prospects to our employees as part of a new group that shares our core human values.” 

The transaction is subject to approval by the competition authorities and a number of regulatory steps, including a mandatory delisting procedure for the shares of Sodifrance’s shareholders. 

Earlier this year, Sopra Steria acquired cxpartners, a UK-based experience design consultancy with 50 employees.