Cabinet Office selling SSCL stake to Sopra Steria

24 Oct 2023 10:01 AM | Shivani Kaura (Administrator)

Sopra Steria is set to fully acquire SSCL, making it a wholly owned subsidiary of the Group. The purchase price is £82.3m in cash (not far off half of the £200m extra investment that the Government, a few weeks ago, committed to the NHS this winter). So, on top of the savings already realised by UK Government due to back-office improvements (in excess of £750m), there will now be an extra boost to the public purse. For Sopra Steria, SSCL will be “accretive to (the company’s) net result and EPS from Day 1”.

Over the last ten years, SSCL has grown substantially both in terms of customers served and the services on offer. The JV’s foundation customers were DWP, Defra, Cabinet Office, and the Environment Agency

Read the full article on TechMarketView here.

Powered by Wild Apricot Membership Software