Press release from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the company ‘Datheos BidCo SAS’ of the company ‘TopSky SAS’ through the acquisition of at least 97% of its share capital and associated voting rights

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘summary of the transaction’ below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed transaction.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The direct acquirer: ‘Datheos BidCo SAS’;
• The ultimate acquirer: ‘Cinven VIII’;
• The target: ‘TopSky SAS’.

Nature of the transaction

• Exclusive takeover.

Economic sectors concerned

• Data consulting and artificial intelligence services.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. September 11, 2025.

NON-CONFIDENTIAL SUMMARY OF THE TRANSACTION PROVIDED BY THE PARTIES

The Competition Council has received notification of an economic concentration operation concerning the exclusive takeover by the company ‘Datheos BidCo SAS’ of the company ‘TopSky SAS’ through the acquisition of at least 97% of its share capital and associated voting rights.

‘Datheos BidCo SAS’ is a French simplified joint-stock company, with its registered office at 3, Boulevard de Sébastopol, 75001 – Paris, registered with the Paris Trade and Companies Register under number 943 782 029 RCS Paris. ‘Datheos BidCo SAS’ is ultimately controlled by the fund ‘Cinven VIII’, which is managed and controlled by the company ‘Cinven Limited’. ‘Cinven Limited’ and ‘Cinven VIII’ are part of ‘Cinven’, a private equity company providing investment management and advisory services to several investment funds. The portfolio companies controlled by ‘Cinven’ are active in various sectors, including business services, consumer, financial services, healthcare, industry, as well as technology, media, and telecommunications.

‘TopSky SAS’ is a French simplified joint-stock company, with its registered office at 19, rue Richer, 75009 – Paris, registered with the Paris Trade and Companies Register under number 899 404 925 RCS Paris. It is the parent company of the Artefact Group, whose main operating subsidiary is the company ‘Artefact SAS’. ‘Artefact SAS’ is a French simplified joint-stock company operating in the field of data consulting and artificial intelligence on a global scale. In Morocco, the TopSky group operates through its subsidiary ‘Adalyne SARL’, a limited liability company based at 7 angle rue clos de Provence and Franklin Gauthier – Casablanca, Morocco, registered with the Casablanca Trade Register under number 446539. The Moroccan subsidiary offers management consulting and data analysis services.

 

Done in Rabat on September 1, 2025.