Sopra Steria (Paris:SOP) (Euronext Paris: SOP), a European leader in digital transformation, has signed an exclusive negotiation agreement with a view to acquiring cybersecurity firm EVA Group.
The cybersecurity market is seeing rapid growth, with this issue now a major concern for corporate management and IT decision-makers looking to make systems more resilient and increase digital sovereignty. Consequently, most of them expect to significantly increase their investments in this area. In this market, Sopra Steria is positioned among the top five providers1 in France, and is a founding member of Campus Cyber, a cybersecurity hub launched on the initiative of the French president.
EVA Group is a French cybersecurity firm. Its revenue forecast for 2021 is around €33m, mainly generated in France. Its business is built around consulting, audit, integration, expertise and training. Its 240 consultants and experts serve 80 active clients, most of which are large public-sector organisations and businesses listed on the CAC 40 and SBF 120 French stock market indices.
The tie-up between Sopra Steria and EVA Group would significantly boost Sopra Steria Group’s firepower in the highly promising and critical field of cybersecurity. It would offer major clients a comprehensive, end-to-end range of services to bolster IT systems security. It would also combine two essential components: close customer relationships and an innovative industrial model. In addition, it would act as a springboard, propelling the Group into position as one of the top three players in the French cybersecurity market.
Jean-Victor Garnier, Erwan Brouder and Robert Tran Van Lieu, senior executives and shareholders of EVA Group, commented: “The opportunity for a tie-up between our group and Sopra Steria brings us into a new phase in our development. Joining forces would enable us to build a sovereign European leader in digital trust. This tie-up would also open up new prospects for our employees and enrich our value proposition for our clients thanks to the many synergies it would create.”
Cyril Malargé, COO of Sopra Steria Group and CEO of its “France” reporting unit, added: “I’m excited about the plan we have mapped out with EVA Group.The strong synergies between our teams will help position us as a leader in the French IT- and data-security market, with a comprehensive range of solutions combining consulting, expertise, innovation and an industrial approach.”
The proposed acquisition is subject to the customary consultations and closing conditions, and could be finalised in the fourth quarter of 2021.
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