Click here to close now.

SYS-CON MEDIA Authors: David Sprott, Liz McMillan, Pat Romanski, tru welu, Blue Box Blog

News Feed Item

Sopra - Steria Tie-up

Regulatory News :

Sopra (Paris:SOP) (NYSE EURONEXT: SOP) and Steria (NYSE EURONEXT: RIA) have announced that their proposed tie-up is making very good progress, in line with the schedule they set. A major new milestone was achieved on 24 June 2014 when the AMF issued its compliance ruling on the Public Exchange Offer (“OPE”) and approved Sopra’s Information Memorandum (AMF visa no. 14-322) as well as Steria’s Memorandum in Response (AMF visa no. 14-323).

Since 26 June 2014 (the opening date of the OPE), Steria’s shareholders have had the opportunity to contribute to the creation of a European digital services leader by tendering their shares to the OPE before its closing date, which will be finalised by the AMF after Sopra obtains antitrust approval from the European Commission.

The OPE is also subject to the condition that Steria shares representing at least 60% of the share capital and voting rights of Steria at the closing date of the OPE are tendered to the offer.

Since the announcement of the proposed tie-up:

  • at their Extraordinary General Meeting of 3 June 2014, the shareholders of Soderi, currently Steria’s general partner (associé commandité), voted 98.5% in favour of the resolutions allowing Soderi’s Articles of Association to be adapted to the governance of the future combined entity, Sopra Steria Group, thus expressing their overwhelming support for the project;
  • at their Combined General Meeting of 27 June 2014, the shareholders of Sopra expressed their support for the project by voting predominantly (over 98%) in favour of the specific resolutions relating to the OPE.

As a reminder, the new group would have combined revenue of €3.1bn (based on 2013 pro forma) and locations in 24 countries, boasting over 35,000 professionals at the service of major international clients. This tie-up would create one of the most complete offering portfolios available on the market, thanks in particular to highly complementary business activities and geographies.

Indicative timetable for the OPE

  • Since 26 June 2014: OPE open to shareholders
  • 30 July 2014: closing of the OPE*
  • 12 August 2014: settlement-delivery of the shares tendered

*The AMF and Euronext Paris will publish the finalised OPE timetable as soon as the European Commission issues its antitrust approval for the tie-up transaction.

As previously indicated, Sopra and Steria will publish their interim results on 25 July 2014 before the opening of trading.

How can shareholders tender their shares to the OPE?

Information on the OPE is available on the websites of Steria (http://investisseurs.steria.com) and Sopra (www.sopra.com/soprasteria), as well as the website of the AMF (www.amf-france.org).

There are two ways for Steria shareholders to tender their shares depending on the form in which their shares are held:

  • Shareholders with shares in bearer or administered registered form (i.e. registered in an account held with a financial intermediary): before the OPE closing date at the latest, you must submit to your financial intermediary an ordre d’apport (tender order) for the OPE, which must comply with the template that your financial intermediary gives you;
  • Shareholders with shares in pure registered form: you must return the bulletin de participation (ballot) which you will receive by post, indicating that you wish to tender your shares to the OPE. Your Steria shares will then be converted to administered registered form so that you can participate in the OPE.

A free phone number is available for Steria shareholders for all questions relating to the offer: 0800 91 72 24.

This press release has been disseminated for information purposes only and does not constitute and should not be construed as constituting an offer to acquire Steria or Sopra shares. The OPE is being carried out exclusively in France and participation in the OPE is subject to legal restrictions outside France. This press release is therefore not intended to be disseminated in countries other than France and it is not addressed, directly or indirectly, to persons subject to such restrictions. Sopra and Steria disclaim all liability in the event of a breach by any person of these legal restrictions applicable outside France.

This document is a free translation into English of the original French press release. It is not a binding document. In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.

-END-

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Collecting data in the field and configuring multitudes of unique devices is a time-consuming, labor-intensive process that can stretch IT resources. Horan & Bird [H&B], Australia’s fifth-largest Solar Panel Installer, wanted to automate sensor data collection and monitoring from its solar panels and integrate the data with its business and marketing systems. After data was collected and structured, two major areas needed to be addressed: improving developer workflows and extending access to a b...
When an enterprise builds a hybrid IaaS cloud connecting its data center to one or more public clouds, security is often a major topic along with the other challenges involved. Security is closely intertwined with the networking choices made for the hybrid cloud. Traditional networking approaches for building a hybrid cloud try to kludge together the enterprise infrastructure with the public cloud. Consequently this approach requires risky, deep "surgery" including changes to firewalls, subnets...
Move from reactive to proactive cloud management in a heterogeneous cloud infrastructure. In his session at 16th Cloud Expo, Manoj Khabe, Innovative Solution-Focused Transformation Leader at Vicom Computer Services, Inc., will show how to replace a help desk-centric approach with an ITIL-based service model and service-centric CMDB that’s tightly integrated with an event and incident management platform. Learn how to expand the scope of operations management to service management. He will al...
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
2015 predictions circa 1970: houses anticipate our needs and adapt, city infrastructure is citizen and situation aware, office buildings identify and preprocess you. Today smart buildings have no such collective conscience, no shared set of fundamental services to identify, predict and synchronize around us. LiveSpace and M2Mi are changing that. LiveSpace Smart Environment devices deliver over the M2Mi IoT Platform real time presence, awareness and intent analytics as a service to local connecte...
Amazon and Google have built software-defined data centers (SDDCs) that deliver massively scalable services with great efficiency. Yet, building SDDCs has proven to be a near impossibility for companies without hyper-scale resources. In his session at 15th Cloud Expo, David Cauthron, CTO and Founder of NIMBOXX, highlighted how a mid-sized manufacturer of global industrial equipment bridged the gap from virtualization to software-defined services, streamlining operations and costs while connect...
High-performing enterprise Software Quality Assurance (SQA) teams validate systems that are ready for use - getting most actively involved as components integrate and form complete systems. These teams catch and report on defects, making sure the customer gets the best software possible. SQA teams have leveraged automation and virtualization to execute more thorough testing in less time - bringing Dev and Ops together, ensuring production readiness. Does the emergence of DevOps mean the end of E...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
paradigm shifts in networking, to cloud and licensure, and all the Internet of Things in between. In 2014 automation was the name of the game. In his session at DevOps Summit, Matthew Joyce, a Sales Engineer at Big Switch, will discuss why in 2015 it’s complexity reduction. Matthew Joyce, a sales engineer at Big Switch, is helping push networking into the 21st century. He is also a hacker at NYC Resistor. Previously he worked at NASA Ames Research Center with the Nebula Project (where OpenSta...
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will address the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affec...
The term culture has had a polarizing effect among DevOps supporters. Some propose that culture change is critical for success with DevOps, but are remiss to define culture. Some talk about a DevOps culture but then reference activities that could lead to culture change and there are those that talk about culture change as a set of behaviors that need to be adopted by those in IT. There is no question that businesses successful in adopting a DevOps mindset have seen departmental culture change, ...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In this session, James Kirkland, Red Hat's Chief Architect for the ...