PARIS, FRANCE: Groupe SNEF, a leading French engineering and services company, announced on Tuesday that it has entered into exclusive negotiations with the main shareholders of ALLIATIV, the controlling shareholder of VISIATIV, a company specialized in digital transformation and innovation for SMEs and mid-cap companies.

The deal, which is expected to close in the first half of 2024, would see Groupe SNEF acquire about 75.72% of ALLIATIV’s share capital, and indirectly about 46.90% of VISIATIV’s share capital and 61.81% of its voting rights. The transaction is subject to regulatory approvals and the consent of some of VISIATIV’s commercial partners.

Groupe SNEF would pay €37.00 per VISIATIV share (cum dividend) to ALLIATIV’s main shareholders, valuing the entire VISIATIV group at €170.7 million. This price represents a premium of over 35% compared to VISIATIV’s closing price on Monday.

Laurent Fiard, the co-founder and CEO of VISIATIV, as well as some senior executives and managers, would remain involved in the company’s development project, retaining or reinvesting part of their shares in ALLIATIV or a dedicated holding company.

Groupe SNEF said that the acquisition would allow it to strengthen its position in the digital transformation market, and to benefit from VISIATIV’s expertise and customer base. VISIATIV, which operates in France, Switzerland, Morocco, and Canada, offers solutions such as cloud computing, collaborative platforms, 3D printing, and artificial intelligence.

VISIATIV’s Board of Directors welcomed the offer from Groupe SNEF, and decided to launch a consultation process with its employee representatives. The board also appointed an ad hoc committee and an independent expert to examine the financial terms of the offer and to issue a reasoned opinion. VISIATIV said it would keep the market informed of the progress of the deal.

 Laurent Fiard, co-founder and CEO of VISIATIV, commented: “The VISIATIV teams and I are pleased to join forces with Groupe SNEF, with which we have shared values, ambitions and an industrial DNA. I would like to thank Christian Donzel for his involvement throughout the company’s 35 years of existence, and which has left an indelible mark at VISIATIV’s core. With our 25,000 customers, in 15 countries, we have demonstrated our ability to bring industry and innovation into the digital age, in close proximity with our customers thanks to the commitment of our teams. We welcome Groupe SNEF and are pleased to join forces with this key industrial partner to achieve SHIFT5.”

Stephane Corteel, CEO of Groupe SNEF, commented: “The Chairman and the Management of Groupe SNEF are delighted to be working with Laurent Fiard and his team to continue developing VISIATIV. This project forms part of Groupe SNEF’s strategy to consolidate its digital division within its portfolio of value-added services.”

Christian Donzel, co-founder of VISIATIV, commented: “I am happy to have enabled VISIATIV to grow and reach the size it is. Over those 35 years since its creation, VISIATIV has become one of the leaders in digital transformation for industry and its revenue has increased more than five-fold since its IPO, thanks, in particular, to strong international growth, and which now exceeds €100 million in more than 15 countries. I’m proud to have been part of this adventure and I express my wholehearted thanks to all our employees who have contributed to our project. I sincerely hope that with Groupe SNEF, VISIATIV will continue to bring our customers the very best.”

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