J&A ADVISES APO’G AND ITS FOUNDING PARTNERS ON ITS SALE TO AXIDO, A SUBSIDIARY OF THE PROXITEAM GROUP

Joffe & Associés advised Apo’g, a company specialized in supporting very small and medium-sized businesses with their digital transformation, and its founding partners, in connection with its sale to Axido, a subsidiary of the Proxiteam Group and a key player in the digital transformation of SMEs and mid-sized companies.

 

Apo’g, renowned for its expertise as an ERP integrator and managed IT services provider, brings strategic added value to the Proxiteam Group’s portfolio of capabilities. This acquisition is part of an external growth strategy aimed at strengthening the Group’s leadership position in the digital transformation market for mid-sized companies.

 

This integration enables the Proxiteam Group to strengthen its expertise in Microsoft Teams telephony and expand its offering with “Teamsroom” connected meeting rooms. The transaction also reinforces its presence in the Île-de-France region and further consolidates its leadership position in the digital transformation market for SMEs and mid-sized companies.

 

Joffe & Associés advised Apo’g and its founding partners on all legal, social, and tax aspects of the transaction, with a team led by partner Aymeric Dégremont, assisted by lawyer Océane Lewden.

J&A ADVISES ONE PREPAID ON ITS ACQUISITION OF A STAKE IN ISAI AND ISATIS CAPITAL

Joffe & Associés advised One Prepaid, a player in the technical management and distribution of gift cards and prepaid vouchers, on the acquisition of a stake in the company by ISAI via its Growth Lending fund and by Isatis Capital.

 

Founded in 2020, One Prepaid currently supports more than 50 retailers, including Fnac Darty, Yves Rocher, Monoprix and Printemps. The company stands out for its strong technical expertise, recurring business model and sustained growth of +30% a year since 2022.

 

With nearly one billion euros in flows processed by 2024, One Prepaid aims to accelerate its development on B2B and B2C markets, while exploring external growth opportunities. This sponsorless transaction gives the management team greater strategic autonomy and prepares the company for a new phase of expansion.

 

Joffe & Associés advised One Prepaid on corporate aspects with a team comprising partner Christophe Joffe, associates Antoine Lamy and Clément Peillet.

SICKNESS DURING HOLIDAYS: EUROPE FORCES FRANCE TO REVIEW ITS LAW

According to the CJEU, annual paid leave is intended for rest, while sick leave is for healing. One cannot therefore replace the other.

 

However, the French Labor Code ignores this situation and case law considers that “if an employee falls ill during their leave, their sick leave is not taken into account. The days of leave cannot be carried over and are lost.”

 

In view of this gap, the European Commission launched an infringement procedure against France on 18th June 2025. A letter of formal notice has been sent urging France to comply with Directive 2003/88/EC on working time in order to guarantee the effectiveness of the right to annual leave. France has two months to comply, or risk a referral to the CJEU and a possible sanction. The legislator will therefore have to adapt the Labour Code.

 

Some lawyers and trade unions in favour of the change see this as an important social step forward in order to guarantee employees a real right to rest, even in the event of illness occurring during the holidays, while sick leave and paid leave pursue two different purposes. Many countries provide for this right to deferral: in Belgium, provided that the employee informs their employer immediately, provides a medical certificate, and reschedules the days later; in Italy, Spain or Switzerland where the right to deferral is strictly regulated with the requirement of rigorous medical proof and without allowing extended holidays.

 

However, many critics have been raised against this system, fearing a generalization of sick leave during holidays and opportunistic behavior to artificially extend vacations.

 

The abuse of sick leave is already a worrying reality in France. The Health Insurance has noted an explosion of false work stoppages in recent years. 42 million euros of sick leave fraud were detected in 2024, a figure 2.4 times higher than in 2023. In addition, out of 230,000 sick leaves verified by medical advisors, one in three was unjustified and was suspended.

 

In order to effectively combat these abuses, the Health Insurance has made available, and then made mandatory from July 2025, a new standardized form for notice of sick leave that is difficult to falsify and more secure (special paper, holographic label, magnetic ink, identification of the prescriber, etc.).

 

Strengthening the control of sick leave is certainly a reasonable counterpart to the evolution of French law required by the European Commission, to avoid abuses and preserve the credibility of the system. Confidence requires maintaining the balance between individual rights and the prevention of abuse. It is on this condition that this reform can be fully accepted and effective.