The acquisition by Steria of Bull's service companies:
motivations, negotiations, integration and strategic implications (2000–2004) Online publication date: Tue, 22-Nov-2005
by Pier A. Abetti
International Journal of Services Technology and Management (IJSTM), Vol. 7, No. 1, 2006
Abstract: The objective of this case study is to analyse in detail the acquisition by Steria, a French IT systems and services company, of the European service companies of its major competitor, Bull. This successful acquisition transformed Steria from a French company to European leader and doubled revenues from euro (€) 500 million to over €1 billion, while always maintaining profitability in spite of the collapse of the 'internet bubble'. We present first the view from the field: the effect on the personnel of the acquired and acquiring companies. Then we present the view from the headquarters of both companies: the motivations of the CEOs, the often contentious negotiations, and the successful integration. We develop the strategic implications of the acquisition for the new 'European' Steria and discuss possible alternatives for achieving the goal of doubling sales by 2006, as set by Steria's CEO. We conclude with 'lessons learned' that may be useful to companies considering major international acquisitions.
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