CFI advised Devoteam on the sale of 40% of the shares in Between to its minority shareholders

Amsterdam – CFI is pleased to announce it acted as the exclusive corporate finance advisor to Devoteam S.A. (‘Devoteam’) on the sale of 40% of the shares in Between Holding B.V. (‘Between’) to its minority shareholders (including management).

Between is a premium, full resource broker of specialised IT professionals in the Netherlands and Belgium. It mainly serves as a premium broker of IT professionals in the public, financial and IT sectors. Next to its premium brokerage services, the Company offers contract management, professional recruitment, payrolling, training and vendor management services.

Devoteam is a France-based IT consultancy company listed on the Paris stock exchange [ISIN: FR0000073793, ticker symbol DVTM.PA], with a market capitalization of over EUR 500m. In 2016, Devoteam S.A. generated EUR 556m in revenue and EUR 47m in operating margin. Devoteam is headquartered in Paris with representations in 17 countries, mainly providing advisory services on IT and system integration, project management and application development. Devoteam’s main clients are active in the industry and distribution, financial and public sectors.

On 21 July 2017, Devoteam signed an agreement which lead to the divestment of 40% of Between shares to its minority shareholders, following which Devoteam’s ownership in the Company decreased to 35%.

The transaction was closed on 7 December 2017.

Software & IT Services

has sold 40% of the shares in

to its minority shareholders

Transaction details

Devoteam, a IT services and systems integration company, sold 40% of its shares in Between, a premium and full resource broker of specialised IT professionals, to its minority shareholders (including management)