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Cap Gemini to Buy Igate for $4 Billion to Take On Accenture

IGATE Green Building Noida.

IGATE Green Building Noida.

Source: Intap2007/Creative Commons
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Cap Gemini SA agreed to acquire Igate Corp. for about $4 billion, giving Europe’s largest provider of computer services access to more financial customers as it expands in the growing U.S. market for information technology consulting.

Igate investors will receive $48 in cash per share, or 4.7 percent more than the stock’s April 24 close in New York, the companies said Monday. Cap Gemini, which is financing the purchase with a mixture of cash, debt and new stock, will add contracts with clients including Royal Bank of Canada and General Electric Co. to boost its annual revenue to 12.5 billion euros ($13.5 billion).