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Friday, 03 July 2015 01:06

Capgemini completes IGATE acquisition Featured

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Capgemini completes IGATE acquisition

European consulting, technology and outsourcing services provider Capgemini has completed its acquisition of US-based IT services company IGATE Corporation.

Capgemini reportedly paid about US$4 billion for IGATE which had 2014 revenues of $1.3 billion.

Pursuant to the terms of the merger agreement, announced on 27 April this year, IGATE  - headquartered in New Jersey - became the indirect wholly owned subsidiary of Capgemini.

As a result of the acquisition, IGATE shares will cease trading, and will be delisted from the NASDAQ Global Select Market.
The transaction is expected to be accretive to Capgemini normalised Earnings Per Share by at least 12% in 2016 and 16% in 2017.

Capgemini chairman Paul Hermelin said the acquisition represented a major step in Capgemini’s history.

“With IGATE, our operations in North America have taken on a new dimension and are now our largest market in revenues. Our combined operations in India have now reached the size to compete on 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”.

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Peter Dinham

Peter Dinham - retired in 2020. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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