Assystem Technologies has, through a subsidiary company, announced a takeover offer at approximately £281.3 million to acquire SQS AG, a benchmark player in systems and software testing, quality assurance and digital transformation. The proposed combination of Assystem Technologies and SQS AG is expected to create an enlarged Assystem Technologies group with approximately 14,000 employees with combined revenues of approximately €1 billion.
The offer is expected to enable Assystem Technologies to diversify and strengthen:
Diederik Vos, CEO said " We believe that it is an opportunity to join up with an organisation that is complementary and which provides enhanced opportunity for the benefit of our staff and customers. Combining the two companies will create a truly global business delivering a "best in class" offering to customers based on a shared culture of technical excellence, continued innovation and providing the highest standards of service. We are a growth company that wants to play a major role in the evolving digital world. In Ardian we have found a financial investor with a strong industrial strategy, ready to invest to build new European and global champions. Ardian is an investor with more than two decades of successful track history and has invested or advised investments of c. € 62bn in many European and global companies.”
Commenting on the offer, Olivier Aldrin, Chief Executive Officer of Assystem Technologies and Managing Director of Bidco, said: "We are delighted that our proposal has been recommended by the SQS Boards. The coming together of Assystem Technologies and SQS creates a dynamic, fast-growing international business with complementary outlook, strategic geographical presence and an enhanced ability to market innovative products and services. The enlarged business will combine SQS's expertise in quality assurance and process consulting in the digital world, with Assystem Technologies' breadth of engineering product design capabilities, positioning the Enlarged Group to leverage the convergence of the digital and physical worlds to offer quality assurance of both products and processes to its enterprise customer base across a range of complementary geographies and end markets.