Capgemini acquires iGATE for $4 billion Monday April 27,2015

 

Capgemini and iGATE on Monday April 27,2015 announced that they have entered into a definitive merger agreement under which Capgemini will acquire iGATE for a cash consideration of $48 per share. According to the company, the transaction will amount to $4 billion and is expected to be immediately accretive to Capgemini’s normalized Earnings Per Share (EPS)1. The deal is considered as one of the largest buy-out in the IT services industry.

“The merger agreement has been approved unanimously by both Capgemini’s and iGATE’s Board of Directors. The transaction has also been approved by the written consent of shareholders holding a majority of iGATE’s shares,” both the firms told

 

iGATE is US-listed IT services company headquartered in New Jersey with 2014 revenues of $1.3 billion. North America is iGATE’s largest market representing 79 per cent of revenues in 2014 followed by Europe and Asia-Pacific.