Sword Group - Disposal of French Subsidiaries | Sword today announces the sale of its France operations to Argos Wityu
Argos Wityu and Sword Group today signed the finalised agreement for the acquisition by Argos of French subsidiaries and the current management of Sword France.
The scope concerned by the transaction covers:
Services activities currently managed by French subsidiaries in France,
International software activities for National Patent & Trademark Offices,
Software aimed at the French market in the fields of Health, Information and Customer Relations.
This scope, the profitability of which falls under Group standards, is generating a revenue trend of EUR 60 million for 2020.
Sword Group is continuing:
GRC (Governance Risk and Compliance), operations in Software on a global level,
Services operations in the United Kingdom,
Services operations in Belgium, Luxemburg and Greece,
Services operations in Switzerland,
Venue Management operations in Software at European level,
Services in the Middle East and North America,
Offshore operations from Lebanon and India,
All Software operations in France except for products included in the transferred scope.
Regarding M&A’s strategy is focusing on:
Acquisition of complementary products in GRC,
Acquisition of small, targeted companies in Services in the United Kingdom,
Acquisition of companies in light of new opportunities in other countries where the Group operates.
In accounting terms, France is taken out of the consolidation scope with effect from October 1st, 2020.
Consolidated revenue for 2020 will significantly exceed EUR 200 million.
For more information:
Sword Group | Stéphanie Desmaris
Head of Communication
45
Argos Wityu | Coralie Cornet
Director of Communications
63
Sword France | Cynthia Vettivelu
In charge of Communication
35
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