A € 50 million loan enables SOA People to further expand their activities, making it one of the top SAP partners in Europe. [shutterstock: 689460253, Epic Cure]
SOA People, an SAP gold partner in 5 countries, secures a €50 million loan to invest and expand its European operation, through strategic acquisitions and significant growth of its solution portfolio and team of experts, driving forwards to reach its €250 million target by 2022.
SOA People has recently secured a funding of €50 million, thanks to ING Bank, in recognition of 10 years of solid profitable growth, enabling the company to further invest and expand with an emphasis on making strategic acquisitions across the SAP community. To help fulfil this significant objective, SOA People will continue to develop its recurring business through its software contracts, cloud subscriptions and its own product development integrated with SAP solutions.
For 10 years, SOA People has been focusing on solutions, products and services from SAP and as such leverages its position as a leading and credible pan European player in the SAP partner community. Its long-lasting partnership with SAP supports its growth targets across Europe.
“We have a clear vision for the future and the financial mandate for us to successfully execute on our plans for growth. It’s an exciting time for all of us”, highlights Khalil Hodaibi, CEO SOA People, “With the inevitable digital shift that companies are now experiencing, SOA People is extremely well positioned to lead the field of talent and innovation to help transform enterprises across the continent.”
“SOA People is continuing to invest and grow its European operation through acquisitions, its unique solution and product portfolio and its people-centric focus. Ambitious expansion plans are already being realised, highlighted by a number of strategic acquisitions”, Hodaibi continues. “Most recently, this includes Cormeta, providing a foothold in the German market and a spring board to the wider SAP MEE (Mid/Eastern Europe) markets. This move has enabled the organisation to become one of the top SAP partners in Europe, with a 20% growth in sales.
This move has enabled the organisation to become one of the top SAP partners in Europe, with a 20% growth in sales.
Pierre Gustin, Directeur Entreprises et Institutionnels Wallonie ING Belgium: “We have known the founders of SOA People and have followed the company’s success through organic growth and acquisitions, from the very beginning. Their financial solidity, financial ratios and their ability to help companies of all sizes become more performant allows ING to have full confidence in supporting SOA People with this bank loan. They have continually performed beyond expectation, pushing the boundaries even during tough economic climates, and it is for this reason we are secure in the knowledge SOA People will achieve their ambitious 5-year growth plan.”
Alongside these ambitious goals, SOA People remains absolutely committed to the human dimension that defines the company. “This additional funding will allow us to think big, be inspired and grow beyond our limitations. People are always at the heart of our strategy, and having motivated and committed people is what brings real value to our 800 customers”, Hodaibi insists. “The diversity of our product and service portfolio we showcase to the SAP community will expand, as well as new opportunities for our employees. We now have all levers to realise our objectives”.
“For many years, SAP has developed an extremely powerful ecosystem with its partners, ensuring both local and specialized services for its customers. It is vital our partners are working at the leading edge of SAP, providing an international presence to secure the success of project rollouts. As a gold partner, SOA People supports our strategy, helping to consolidate the market and build a stronger platform to serve our customers,” says Franck Cohen, Chief Commercial Officer at SAP.