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Sopra Group to acquire Business & Decision from Business & Decision GroupFeb 14, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Sopra Group, engaged in the consulting, IT services and software development business, has agreed to acquire Business & Decision Limited, a 100% owned UK-based subsidiary of Business & Decision Group (BDG), a consulting and data management company. Both Sopra and BDG are based in France. Business & Decision provides consulting and IT services, including business intelligence (BI), customer relationship management (CRM) and e-business. Concurrently, Sopra has agreed to acquire the UK financial services product business of Tieto Corporation, a Finland-based information technology (IT) services company. Sopra will fund the transactions through its existing lines of credit. Pursuant to the acquisition, Both the businesses will be integrated within Sopra's UK subsidiary. On completion of the transactions, the new entity will offer its UK clients a wide array of know-how, services and solutions. Business & Decision has generated revenue of approximately EUR26 million in financial year 2011. The transactions are expected to close during the first quarter 2012. Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Announced: 2012-02-13 Deal Participants Target (Company) Business & Decision Limited Acquirer (Company) Sopra Group Vendor (Company) Business & Decision Group Deal Rationale These transactions are perfectly in line with Sopra's strategy of reinforcing positioning in Europe and better aligning its European subsidiaries' business models with the operational business model in place in France in order to capitalize on synergies. These transactions will also enhance Sopra's capacity to provide services on an international scale. The two deals will help boost Sopra's presence in the UK |