Capgemini announces the $4 billion acquisition of IGATE Corporation
The consulting and outsourcing firm Capgemini has announced the acquisition of IGATE Corporation, a prominent technology and services company headquartered in New Jersey, USA with 2014 revenues of $1.3 billion. As announced in Supply Chain Digital this morning, the transaction is expected to be accretive to Capgemini normalised earnings per share.
Paul Hermelin, Chairman and CEO of Capgemini, said: “This acquisition represents a major step in Capgemini’s history. With IGATE, our operations in North America have taken a new dimension and are now our largest market in revenues. Our combined operations in India have now reached the size to compete at par with the world leaders in our industry. It will also benefit our customers by taking further our industrialisation and innovation initiatives. On behalf of our group, I’m glad to welcome the 31,000 people of IGATE to Capgemini”.
Pursuant to the terms of the Merger Agreement, announced on 27 April, 2015, IGATE Corporation became the indirect wholly owned subsidiary of Capgemini and each issued and outstanding share of IGATE Corporation common stock (other than shares of IGATE Corporation common stock owned as treasury stock or by Capgemini) was converted into the right to receive $48.00 in cash, without interest. As a result of the acquisition, IGATE Corporation shares will cease trading, and will be delisted from, the NASDAQ Global Select Market.
With more than 145,000 people in over 40 countries, Capgemini is one of the world's foremost providers of consulting, technology and outsourcing services. The Group reported 2014 global revenues of €10,573 million. Together with its clients, Capgemini creates and delivers business and technology solutions that fit their needs and drive the results they want. A deeply multicultural organization, Capgemini has developed its own way of working, the Collaborative Business Experience, and draws on Rightshore, its worldwide delivery model.
For more information, visit: https://www.capgemini.com/investor/capgemini-completes-the-acquisition-of-us-based-igate-corporation