An agreement between Sema Group Plc, Banque Paribas SA and IBM France SA has been concluded to change the ownership of Axone SA, their facilities management joint venture in France, according to the French business journal Les Echos. However nothing was announced officially but a Sema Group spokeswoman said an announcement should be forthcoming before the end of the month. Speculation inside Sema Group says IBM will take full control of Axone, in which it now holds 49.9%, and in which Sema and Paribas each hold 25%. Any such change in the holding structure of Axone must first be approved by the French stock exchange and Treasury Department authorities, since it would be considered a foreign investment. IBM’s purchase of Axone, which earned 81% of its $61m 1991 revenues from facilities management, said Les Echos, would clearly signal its intent to lead in France’s facilities management market. Market research firm Input estimates that the French facilities management market will be worth $1,100m in 1996, compared with $420m last year. It’s somewhat harder to devise an explanation for Sema Group’s desire to relinquish its interest in Axone. The Anglo-French software house realises only 14% of its revenues through facilities management, and its British facilities management division is much more developed than Axone. It may be that Sema wants to concentrate on its UK operations in the sector since its partnership with France Telecom says that the two companies will create a joint facilities management venture in the UK France Telecom, through its subsidiary Telesystemes SA, has a significant presence in the French facilities management market.
