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4-Traders Homepage  >  Equities  >  Euronext Paris  >  VALTECH       FR0004155885

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VALTECH : completes the acquisition of Adea

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12/23/2010 | 08:30am CEST
PR Newswire/Les Echos/

Press Release 
December 22, 2010

Valtech completes the acquisition of Adea

Paris, December 22, 2010 - Valtech, a pioneering company in the technology and
digital space, announced today that it has completed the acquisition of Adea's
activities on December, 17th in cash. Adea is a US based technology 
consultancy with global operations, whose business represented approximately 
USD 39 million in revenues in 2009.

In addition to a substantial increase in revenues for Valtech, Adea brings a
reputable customer base, strong technology competencies and a global delivery
capability. This transaction is part of Valtech's new strategy to strengthen 
its international presence, in the context of the ramp up of its global 
digital projects.

The growth synergies are very significant as Adea comes in perfect
complementarity in terms of geographies, industries, services and customer 
base. "The combination significantly reinforces critical mass and sales 
outreach in the US which is a key market for the future positioning of the 
Group, with a digital marketing market reported to grow by 17% in CAGR in the 
next 5 years. Furthermore, Adea's expertise in digital platforms will 
definitely accelerate Valtech's global development. I am very pleased to 
welcome Adea's team to build together a full-service digital powerhouse" said 
Sebastian Lombardo, Chairman and CEO of Valtech.

The integration process starts as of today and will be facilitated by the
geographical proximity and business complementarity between Valtech and Adea's
operations in the US and India. Shouvik Bhattacharyya, CEO of Adea will join
Valtech and will manage US and Indian operations. He will report directly to
Sebastian Lombardo. "With Valtech's full backing and global strength, I am
confident that Adea will deliver great value to the Group, its customers and
shareholders. Adea brings a very dynamic sales engine, a recognized
international delivery capability, an award-winning HR process and a highly
experienced team. We are very happy to join Valtech and looking forward to
writing a new page in the history of our industry" said Shouvik Bhattacharyya,
CEO of Adea.

Adea's business activities will add up to those of Valtech in the US and India
and might represent an increase of $ 40 M in revenue with $ 1.4M EBITDA, on an
annual basis for 2011.

Since the operation is an assets purchase and as the integration of the two
businesses still needs to be carried out, those figures are only an 
approximate indication of the size and profitability of the purchased 


Valtech is a pioneering company in the technology and digital space, listed on
Euronext in Paris. As a full service digital powerhouse Valtech delivers value
to its customers at all stages of a digital project from strategic consulting 
to design, conception, development and optimization of business critical 
digital platforms. Through its demonstrated commitment to innovation and 
agility Valtech helps global brands build business value and increase revenues
through digital technologies while optimizing time to market and ROI.

Valtech is present in 8 countries (France, UK, Germany, Sweden, Denmark, US,
India, Korea) and has realized a 100M $ turnover in 2009.

About ADEA

Adea is a Global Consulting and Technology Services company headquartered in 
the US with global operations serving customers across Europe, the US and 
Asia. With its strong expertise in Telecom, Retail, Public Sector and 
Healthcare, Adea has delivered global technology and digital platforms for 
more than 100 clients worldwide. Adea leverages agile methodologies to drive 
medium and large scale organizations' digital transformation around the 
following services lines: enterprise platforms, digital solutions for Sales & 
Marketing, consulting and IT implementation. Building on its global pool of 
talent, Adea develops a tailored approach to each engagement bringing 
flexibility and ROI to its customers.

Investor contact:

Mr. Sebastian Lombardo 
Chairman and CEO
[email protected] 
+ 33 (0) 1 76 21 15 00 
The content and accuracy of news releases published on this site and/or 
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by PR Newswire or its partners and under no circumstances shall PR Newswire or 
its partners be liable for any loss or damage resulting from the use of such 
information. All information should be checked prior to publication.

© PRNewswire 2010
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