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IGATE : France's Capgemini to buy IGATE for $4 bn

04/27/2015 | 02:35pm US/Eastern

New York, Apr 27 (EFE).- French consulting firm Capgemini said Monday it was acquiring U.S.-based IGATE for $4 billion.

The companies confirmed the deal in a joint statement and said both boards had approved the acquisition.

Capgemini, under the terms of the deal, will pay $48 for each IGATE share in a transaction that will be immediately accretive to earnings.

"I am very pleased to announce a very important transaction in Capgemini's history. IGATE is a leading company that perfectly fits our strategic ambition. It will give us a new status on the American market, and take further our industrialization journey to offer ever more competitive services to our clients," Capgemini chairman and CEO Paul Hermelin said in a statement.

Capgemini will have projected revenues of 12.5 billion euros ($13.62 billion) and more than 100,000 employees once the acquisition is completed.

"This will also give to the Group's Indian operations a new scale, allowing us to compete on par with the best US-based and Indian-based companies," Hermelin said.

The acquisition, which requires regulatory approval, is expected to close in the second half of this year.

IGATE, a technology and services company with headquarters in Bridgewater, New Jersey, posted revenues of $1.3 billion in 2014. EFE

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(c) 2015 EFE News Services (U.S.) Inc., source EFE Ingles

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