PARIS, January 30, 2025--(BUSINESS WIRE)--Regulatory News;:

Sopra Steria (Paris:SOP), a major tech player in Europe, has announced that it is in exclusive negotiations with a view to acquiring management consulting firm Aurexia.

The planned acquisition of 100% of Aurexia is in keeping with Sopra Steria’s strategy of developing its consulting business with the aim of doubling its size by 2028, at which point consulting would account for at least 12% of the Group’s revenue. The proposed acquisition is aimed at bolstering the Group’s management consulting activities in financial services. It would expand Sopra Steria Next’s capacity and expertise as well as its positioning and ability to serve France’s leading financial institutions.

Founded in 2006 and headquartered in Paris, Aurexia assists senior management, operations, finance, risk and compliance teams at leading French banks and insurers with their development, operational efficiency and compliance projects. With 140 consulting professionals, Aurexia’s forecast revenue for 2024 is around €20 million, with 80% of this total generated in France.

Eric Vernhes, Chairman of Aurexia, commented: "Having achieved revenue growth of 11% in 2024, we are delighted about the opportunity to join Sopra Steria Next, which would further strengthen our momentum. Connecting our teams in Paris, elsewhere in France and abroad with Sopra Steria Next would also offer plenty of development opportunities. With our shared entrepreneurial culture and values, we hope to be able to join forces in 2025."

Dominique Herrou, CEO of Aurexia, added: "This proposed merger would enable us to further expand our client coverage and leverage our growth drivers. The resulting critical mass would put us in a stronger position to take on major transformation projects in banking and insurance. It would also enable us to provide further added value to our clients thanks to synergies with Sopra Steria’s Financial Services vertical."

Fabrice Asvazadourian, CEO of Sopra Steria Next, commented: "Our plan to acquire Aurexia is in line with the Group’s strategy of ramping up growth in consulting so as to be able to offer financial institutions the expertise and capacity needed to support major transformations in their various business areas. This acquisition would make Sopra Steria Next one of the leading management consultancies in France’s financial services sector, with over 400 consultants dedicated to the industry, and would enable us to offer an even greater combination of business expertise and cutting-edge technologies."