The French Gfi Informatique soon under the Qatari flag

by bold-lichterman

Movement in the IT services sector. Gfi Informatique announces that its supervisory board has taken cognizance of and “favorably” welcomed an agreement between Apax Partners and Boussard & Gavaudan, two shareholder funds of the company, and Mannai Corporation, a Qatari group that invests in industry and services . The latter wishes to acquire 51% of the shares of Gfi Informatique on the basis of a transaction for an amount of 8.5 euros per share, ie a premium of 34% compared to “the average price weighted by volumes over the last 20 trading days on November 20, 2015”.

Specializing in IT services, Gfi Informatique, which is listed on Euronext Paris, generated sales of 804 million euros in 2014, and has nearly 11,000 employees in 8 countries. In France, Gfi has around 40 locations. The group provides services in five businesses (service applications, infrastructure services, business solutions, software and consulting).

“International expansion”

“Through this project, Mannai Corporation has expressed its desire to position itself as a long-term shareholder for Gfi Informatique, and an industrial partner, expert in the IT services sector, able to support its development, ”the company explains in its press release. “Its ambition is to accelerate the implementation of the growth strategy led by the Group, and in particular its international expansion in order to make Gfi Informatique a leading group in IT services and software products in the EMEA zone ( Europe, Middle East, Africa) ”. Gfi Informatique’s management team should retain its functions after the transaction.

Based in Doha, Qatar, Mannai Corporation is a diversified group that invests in several sectors, such as ICT, automotive distribution and engineering services in gas and oil.