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October 16, 1995


By CBR Staff Writer

Sema Group Plc is in serious discussions to acquire French systems integrator Cisi SA, 64%-owned subsidiary of state atomic energy authority CEA-Industrie with Cap Gemini Sogeti SA as the 36% minority shareholder, say company sources. Acquiring Cisi, which posted a 1994 net loss of some $19m on turnover of $325m, would give Sema a facilities management business in France and a complement to its defence systems business. Cisi is specialised in scientific information systems. A report in Les Echos quoted union sources saying that an agreement could be reached in the next few days. Remarking that the top five French information systems companies are American and that six of the top 10 are for sale, the union exhorted Cisi’s public shareholders not to cede to private, often foreign, capital interests. An intriguing sidebar is that as well as that 36% of Cisi, Cap Gemini also holds a 28.2% stake in Sema deemed to be hostile: some 18 months ago, Cap Gemini said that while it might sell its 36% of Cisi, the Sema stake was the last thing it would sell (CI No 2,372).

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