Discussion is underway with the Cabinet Office around future ownership of shared services provider, following a decade of partnership delivering significant savings for the taxpayers
London, 27th July 2023 – Following 10 successful years since the creation of Shared Services Connected Ltd (SSCL), a joint venture between Sopra Steria and the Cabinet Office, the purpose-led digital transformation provider is in conversation with the government regarding the option the Cabinet Office has to sell its stake in SSCL to Sopra Steria, in line with the original contract.
As yet no decisions have been made but Sopra Steria and SSCL are expecting discussions to conclude, and the Cabinet Office to make a decision around its stake in the joint venture, in the coming months.
Since the company was launched in 2013, SSCL has become the largest provider of critical business support services for the UK Government, Ministry of Defence, Metropolitan Police Service and the Construction Industry Training Board (CITB), delivering shared services at scale and making significant savings for the UK taxpayer. SSCL has trebled its revenues and increased its employees from 2,000 people in 2014 to more than 3,000 in 2023. There are no plans to change the leadership of the organisation, and regardless of the outcome of the discussions, there would be no impact on the services SSCL delivers to its clients.
Should the Cabinet Office decide to sell its stake within the highly successful joint venture, Shared Services Connected Ltd (SSCL) will become a wholly owned subsidiary of Sopra Steria and remain a key component to the company’s UK family of businesses.
ENDS
About Sopra Steria
Sopra Steria, a European tech leader recognised for its consulting, digital services, and software development, helps its clients drive their digital transformation to obtain tangible and sustainable benefits. It provides end-to-end solutions to make large companies and organisations more competitive by combining in-depth knowledge of a wide range of business sectors and innovative technologies with a fully collaborative approach. Sopra Steria places people at the heart of everything it does and is committed to putting digital to work for its clients in order to build a positive future for all. With 50,000 employees in nearly 30 countries, the Group generated revenue of €5.1 billion in 2022.
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Sopra Steria Group (SOP) is listed on Euronext Paris (Compartment A) - ISIN: FR0000050809
For more information, please visit our website www.soprasteria.com
About SSCL
Shared Services Connected Limited (SSCL) is a leader in critical business support services for the largest Government departments and agencies, the Ministry of Defence, Police and CITB across the UK. We transform services through digital solutions and innovation, including end to end Finance and Accounting, HR and Payroll, Procurement, Pensions Administration and Resourcing Services - enhancing the customer experience, enabling smarter public services.
We employ around 3,000 people who, with their in-depth client knowledge and collaborative approach, sit at the heart of our business strategy. SSCL operates at size and scale across the UK public sector and has already delivered savings of over £750 million - providing more funds for front line public services.