Paris, 26 June 2017: Sopra Steria plans to acquire 100% of the share capital of Kentor, a Swedish company wholly owned by Norwegian group TeleComputing. This proposed acquisition would significantly reinforce Sopra Steria’s positioning in Scandinavia and boost future growth in the region.
Founded in 1983, Kentor – whose head office is in Stockholm – is recognised for its expertise in Consulting, Systems Integration and Application Maintenance. With average organic growth of more than 10% per annum over the past 2 years and an operational performance in the Sopra Steria Group's standards, Kentor achieved €34 million in revenue in 2016 and has 330 employees.
Although Sopra Steria ranks among the sector’s leading firms in the Norwegian market, in Sweden – where annual expenditure in IT services is estimated at €6.5 billion – the Group has only had a limited presence up until now.
Reaching a critical mass in Sweden would enable Sopra Steria to consolidate its growth strategy in Scandinavia by boosting the value of its offerings and leveraging revenue synergies in the region. This proposed transaction is subject to the usual conditions precedent. If it is approved, Sopra Steria could consolidate Kentor in its accounts in the 2nd half of 2017.