Sopra Group (Paris:SOP) announces its intention to acquire 100 % of the capital of the company HR Access thereby significantly strengthening its position in the development of software solutions for the human resources management industry. This transaction is expected to close by the end of March 2013, subject to customary closing conditions, including prior consultations of works councils.
Sopra Group continues to roll out its 2015 strategy with the proposed acquisition of HR Access, a move designed to solidify the Group’s positioning in the human resources management segment as well as serve its ambitious target of generating 30% of revenue in software. For HR Access, the transaction would ensure continued product development and the opportunity to contribute to the Group’s global strategy. For the human resources market, Sopra Group would propose a complete global HR solution, well-adapted to the market context and enterprises of all sizes.
The HR Access software solution addresses all industry sectors of both public and private companies and has developed a loyal client base, most notably among numerous companies comprising the CAC 40. The transaction would round out the Sopra Group software solution, distributed under the brand name Pleiades, which has a significant client base in France and enjoys a widespread presence in local government. Both companies’ solutions include functionalities to manage employee talent, time and activities and payroll. Their respective offerings are sold in both traditional license and outsourcing modes. HR Access and Sopra Group share several strengths: quality products, a proven capacity in R&D and a deep understanding of the human resources sector.
Sopra Group will ensure the ongoing development of both product lines. Clients can rest assured that the investment decisions they’ve made, either in HR Access or Pleiades, will not be compromised.
On a pro forma basis, the total revenue generated by Sopra Group in HR solutions in 2013 would be around €100m.
The contemplated transaction has been approved by Sopra Group’s Board of Directors. The transaction is subject to customary closing conditions, including prior consultations of works councils, and is expected to close by the end of March 2013.
About HR Access
HR Access offers comprehensive end-to-end integrated Global Services HR solutions that are designed to meet the needs of a wide range of companies across all industry sectors. Companies can utilize these solutions for talent management, payroll services, time & attendance, and workforce management.
HR Access was founded in 1972 and is a wholly-owned subsidiary of FMR, LLC. With almost 40 years of industry experience, HR Access has more than 625 customers in more than 54 countries and processes more than 100 million pay checks annually for millions of employees. HR Access employs about 900 people primarily in France, Spain, and Tunisia.
About Sopra Group’s HR Solutions
Present in the HR management segment in France, the Pleiades division of Sopra Group employs 250 people, offers companies real solutions for managing their HR needs, from time management to training and provides payroll solutions for over 2 million employees per month.