Econocom, a company specializing in digital services, announced on Thursday the acquisition of Sofi Groupe, an industrial player in the reconditioning of smartphones and tablets in France.
The company takes a majority stake in the capital of Sofi Group. This acquisition, the amount of which is not disclosed (but The echoes mention an amount of 20 million euros), is carried out by its entity TMF (Technology Management and Financing), specialized in the financing of digital assets. According to the group, this operation is part of “a common strategy to conquer the refurbished digital market in Europe”.
Econocom designs, finances and facilitates the digital transformation of large companies and public organizations, which includes project financing, equipment distribution and digital services. The listed company operates in 16 countries internationally, and claims a turnover of 2,505 million euros in 2021.
Based near Montpellier, Sofi Groupe works in the short circuit reconditioning of multi-brand smartphones and tablets, for a turnover of 21 million euros in 2021. Its flagship brand Smaaart, launched in 2017, offers the purchase of second-hand smartphones and tablets, refurbished in its 3,200 square meter factory, where nearly 120,000 mobiles were collected in France last year.
A global market worth 50 billion euros
The general public’s enthusiasm for refurbished products is real: 2.8 million refurbished smartphones were sold in France in 2020, i.e. 25% more than in 2019. In total, refurbished products accounted for 13% of the all smartphones sold in 2020. Econocom therefore intends to take advantage of the favorable context in the market for refurbished smartphones, estimated at more than 50 billion euros worldwide.
This acquisition will enable Econocom to “respond to market growth and broaden its positioning to the entire life cycle of fixed and mobile IT equipment”, specifies a press release. In addition, “the industrial tool and technical expertise of Sofi Groupe will give TMF the means to internalize and significantly increase the volumes of refurbished equipment to address the growing demand from public and private organizations for this type of equipment. “says the company.
“Our group’s financing activity, led by the TMF entity, is a pioneer in the development of offers with a positive environmental impact. This operation aims to strengthen this leadership by providing TMF with an industrial tool of excellence and a unique “Made in France” know-how allowing us to reinforce the value of our responsible offers on a European scale”, says Samira Draoua. , CEO of TMF.
Jean-Christophe Estoudre and Marlène Taurines, respectively Chairman and Chief Executive Officer of Sofi Groupe, welcomed this merger which “marks a new stage in the development of our company: support from Econocom, a major European group specializing in digital and digital transformation, will allow us to change scale in the years to come”.