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French IT services firm Capgemini on April 27 said it will acquire US-based outsourcer IGATE for $4 billion, a move that will help the former strengthen its foothold in the North American market. Under the merger agreement, Capgemini will acquire the Nasdaq-listed firm for a cash consideration of $48 per share and the transaction will amount to $4 billion, Capgemini said in a statement.
French IT services firm Capgemini on April 27 said it will acquire US-based outsourcer IGATE for $4 billion, a move that will help the former strengthen its foothold in the North American market. Under the merger agreement, Capgemini will acquire the Nasdaq-listed firm for a cash consideration of $48 per share and the transaction will amount to $4 billion, Capgemini said in a statement.
The combined revenue of the merged company is estimated at 12.5 billion euros in 2015 and around 1.9 lakh employees. Interestingly, IGATE had bought India's Patni Computer Systems in 2011 in partnership with private equity giant Apax Partners in a USD 1.2 billion deal. In November, Apax converted its debt in the company into equity and made a filing with the US Securities and Exchange Commission to have the option to sell its entire stake.
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