This acquisition is clearly consistent with SII’s strategic objectives and the efforts made by management over the past four years to diversify the sectors in which Group operates. With this new addition, SII’s expansion into sectors such as banking, insurance and energy is expected to accelerate, while strengthening its close relationships with several key core accounts (BNP Paribas, Société Générale, EDF, Engie, Veolia, etc.).
The purchase is expected to bolster SII by generating obvious business, geographic and industry synergies that will contribute to the Group’s cost-effective expansion.
The acquisition of all of Feel Europe’s operations would be paid for entirely in cash. The transaction, which should be finalized in September 2016, is contingent on consultations with both companies’ employee representatives, the signing of a final agreement and the Competition Authority’s approval.
Advisers to the seller: KPMG Corporate Finance & Jeantet Associés
Advisers to the purchaser: FIDAL & RSM Advisory Services
As a trusted technology partner, SII provides high value-added solutions for the IT projects of many large corporations. It relies on a staff of expert engineers and on methods at the cutting edge of quality standards to carry out its activities in:
o Technology Consulting (IT, electronics and telecommunications), which accounts for 54% of its business, and
o Systems Integration (IT technology and networks), which accounts for 46% of the total.
SII has opted for a corporate structure that offers the responsiveness and flexibility associated with local-level services, with nine regional offices in France and fifteen more in other countries on four continents, all of which have access to all of the Group’s operational resources and can provide effective services to major corporations’ international operations.
The SII Group posted revenue of €360.1m in fiscal 2015-2016, which ended March 31, reflecting like-for-like growth of 13.7 percent and has been expanding its operations and its growth has outpaced that of other firms in its sector.
About Feel Europe
Founded in 2001 and headed since then by Gilles Sitbon, Feel Europe is an independent consulting company which specializes in information systems and provides services in four areas: consulting, technology, infrastructures and training.
Feel Europe ranks among France’s fifty leading digital services companies. Its consultants work in France, providing services to the IT departments of the largest companies in banking and finance, insurance and pensions and services to industry.
For more information on Feel Europe, visit : www.feeleurope.com