24 September 2008

Cegid has signed an agreement in view of acquiring VCSTimeless, a provider and distributor of software solutions for specialist retailers. With this transaction, which should be finalised on September 30, 2008, Cegid strengthens its leadership position in the Fashion and Retail sectors, with total proforma sales of more than €45 million, including VCSTimeless.

VCSTimeless has an installed base of 450 customers with more than 10,000 stores in 60 countries. It has a direct presence in France, the United Kingdom, Spain, Portugal, Italy and Japan and is present in the other countries via partners.

VCSTimeless’ customers include such prestigious international brands as Aeroshoes, André , Anne Fontaine, Caroll, Du Pareil au Même, Jon Richard and Orchestra. The business to be acquired by Cegid posted annual sales of around €16 million in 2007 (including €6 million in recurrent contracts) and had 145 employees.

Legal transactions should be completed on September 30, 2008. At that time, Nathalie Echinard, director of vertical markets and a member of Cegid’s executive committee, will be named chairman and CEO of VCSTimeless and will direct operations with the support of the company's managers and employees.