(AOF) – Visiativ and Groupe Snef announce the final completion of the sale of 75.72% of the capital of Alliativ (controlling shareholder of Visiativ) to Groupe Snef, following the entry into exclusive negotiations of the main shareholders of Alliativ Alliativ and the Snef group on February 8, 2024, of obtaining the usual regulatory authorizations in terms of merger control and the formal approval of certain commercial partners of Visiativ.
The sale was carried out by way of transfer in cash, on the basis of a transparency value equal to a price of 37.00 euros per Visiativ share (coupon attached). This price represents a premium of +35.5% compared to the closing price of the Visiativ share on February 8, 2024, the day before the announcement of the sale (reference price on February 8, 2024: 27.30 euros) .
The sale thus allows Groupe Snef to hold 75.72% of the capital of Alliativ, the controlling shareholder of Visiativ. Furthermore, immediately after the sale, Alliativ acquired from concert shareholders 252,578 Visiativ shares (representing approximately 5.43% of the share capital), still at a price of 37.00 euros per Visiativ share (coupon attached).
Following the completion of the sale, Alliativ (now controlled by Groupe SNEF) will soon submit, on a mandatory basis in accordance with the provisions of article 235-2 of the General Regulations of the Financial Markets Authority (AMF), a draft public takeover offer (OPA) subject to AMF compliance and relating to the balance of Visiativ shares in circulation (as well as all of the free shares potentially to be issued before the closing of the OPA), at same price as that retained for transparency in the context of the Transfer, i.e. 37.00 euros per Visiativ share (coupon attached).
AOF – LEARN MORE
Learn more about the Software Publishers industry
Beautiful dynamics
According to the latest Truffle 100 ranking, the sector’s total turnover in France jumped 15% last year to cross the 25 billion euro mark. The sector has benefited from an unprecedented growth rate and confirms its recovery after the health crisis. The average annual growth over fifteen years is 12 times higher than that of GDP! Dassault Systèmes retains first place with more than 5.6 billion euros in revenue last year. Cegid, specialist in software for accountants, and the fintech Murex are placed in second and third position with respectively 791 and 711 million euros in turnover. Polarization is one of the characteristics of the sector: the gap in turnover between the 50th and the 100th publisher has increased further in 2022 to reach almost 28 million euros. Performance was improved as the profitability rate (as a percentage of turnover) increased from 9.1% to 10.4%. The outlook is good because artificial intelligence, seen as revolutionary, is expected to drive the market in 2023, as is cybersecurity.