PARIS–(BUSINESS WIRE)–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.
