Mergers and Acquistions News
Categories: IT Services & Consulting
November 26th 2008, 17:18PM
Capgemini has announced that it is to acquire a Czech Republic-based IT services and consulting firm and its business intelligence subsidiary.
The company said that the acquisition of privately-held Empire and subsidiary Sophia Solutions will generate an extra €10 million (£8.4 million) worth of revenues a year on a consolidated basis.
These acquisitions will form part of Capgemini's plans to expand its presence in eastern Europe and will add 165 skilled workers to the organisation's headcount in the Czech Republic.
Capgemini said that the deal will close by the end of December 2008 and did not disclose the financial terms of the agreement.
"This acquisition represents a significant step forward for Capgemini in our strategy to accelerate growth in our core eastern European countries. These companies enhance our technology services capabilities in our consulting-oriented practice in the Czech Republic," stated Peter Laggner, chief executive of Capgemini eastern Europe.
Earlier this month, Capgemini announced a 6.1 per cent increase in third-quarter revenues to almost €2.1 billion. The company said it remained on course for full-year revenue growth of between four and five per cent as a result.
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