|By Business Wire||
|June 30, 2014 11:45 AM EDT||
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?
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.
WebRTC: together these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at WebRTC Summit, Cary Bran, VP of Innovation and New Ventures at Plantronics and PLT Labs, will provide an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it may enable, complement or entirely transform.
Oct. 10, 2015 02:15 AM EDT Reads: 759
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet condit...
Oct. 10, 2015 02:00 AM EDT Reads: 652
Between the compelling mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how busine...
Oct. 10, 2015 02:00 AM EDT Reads: 307
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
Oct. 10, 2015 02:00 AM EDT Reads: 577
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, will introduce the technologies required for implementing thes...
Oct. 10, 2015 01:00 AM EDT Reads: 757
Achim Weiss is Chief Executive Officer and co-founder of ProfitBricks. In 1995, he broke off his studies to co-found the web hosting company "Schlund+Partner." The company "Schlund+Partner" later became the 1&1 web hosting product line. From 1995 to 2008, he was the technical director for several important projects: the largest web hosting platform in the world, the second largest DSL platform, a video on-demand delivery network, the largest eMail backend in Europe, and a universal billing syste...
Oct. 10, 2015 01:00 AM EDT Reads: 241
SYS-CON Events announced today that Spirent Communications, the leader in testing navigation and positioning systems, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Spirent Communications enables innovations in communications technologies that help connect people. Whether it is service provider, data centers, enterprise IT networks, mobile communications, connected vehicles or the Inte...
Oct. 10, 2015 01:00 AM EDT Reads: 201
Containers are revolutionizing the way we deploy and maintain our infrastructures, but monitoring and troubleshooting in a containerized environment can still be painful and impractical. Understanding even basic resource usage is difficult - let alone tracking network connections or malicious activity. In his session at DevOps Summit, Gianluca Borello, Sr. Software Engineer at Sysdig, will cover the current state of the art for container monitoring and visibility, including pros / cons and li...
Oct. 10, 2015 12:00 AM EDT Reads: 266
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Oct. 10, 2015 12:00 AM EDT Reads: 176
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively.
Oct. 10, 2015 12:00 AM EDT Reads: 221
As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ability. Many are unable to effectively engage and inspire, creating forward momentum in the direction of desired change. Renowned for its approach to leadership and emphasis on their people, organizations increasingly look to our military for insight into these challenges.
Oct. 9, 2015 11:15 PM EDT Reads: 207
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi's VP Business Development and Engineering, will explore the IoT cloud-based platform technologies driv...
Oct. 9, 2015 10:15 PM EDT Reads: 146
The IoT market is on track to hit $7.1 trillion in 2020. The reality is that only a handful of companies are ready for this massive demand. There are a lot of barriers, paint points, traps, and hidden roadblocks. How can we deal with these issues and challenges? The paradigm has changed. Old-style ad-hoc trial-and-error ways will certainly lead you to the dead end. What is mandatory is an overarching and adaptive approach to effectively handle the rapid changes and exponential growth.
Oct. 9, 2015 10:00 PM EDT Reads: 249
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, will discuss the impact of technology on identity....
Oct. 9, 2015 10:00 PM EDT Reads: 453
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. Migration to cloud shifts computing resources from your data center, which can yield significant advantages provided that the cloud vendor an offer enterprise-grade quality for your application.
Oct. 9, 2015 09:30 PM EDT Reads: 318