Capgemini, providers of consulting, technology and outsourcing services, has acquired 100 per cent of AIVE Group, an Italian IT service provider, from three primary private equity funds (Emerald, Fidia and Athena Private Equity) and AIVE's management.
This strategic move will enable Capgemini to strengthen its application portfolio as well as its SaaS (Software as a Service) positioning and its market share in IT services in Italy. The deal is based on an enterprise value of euro 42.9 million (about Rs.272.74 crore) and will be financed by the Capgemini Group's net cash.
The contract was signed under conditional approval by the relevant anti-trust authorities in Italy. A release issued here has stated that this transaction follows the earlier acquisitions of Prosodie, Avantias and Artesys in France, BI Consulting Group in North America and CS Consulting in Germany.
Capgemini Italia reported 2010 revenues of around euro 150 million and employs 1,800 experts. Despite the recent harsh economic times for the IT market in Italy, Capgemini Italia registered high single digit average annual growth over the last four years. AIVE Group, an innovative IT group, was founded in 1984. It generated pro-forma revenues of euro 56 million in 2010. It has three business units: AIVE BS (Business Solutions for medium accounts and manufacturing industry), AIVE I&C (Integration & Consulting for large accounts), AIVE BST (tailored solutions for banking and insurance). It is headquartered in Venice and has 550 professionals. The company owns several proprietary solutions tailored to different vertical markets and focussed on specific industry segment needs, such as fashion, transportation, food, banking and insurance.
Capgemini in India is more than 33,000-people strong across seven cities (Mumbai, Bangalore, Hyderabad, Kolkata, Chennai, Pune and Delhi).
With dedicated teams to service the domestic markets, it has strong domain experience to assist clients across the government and public sector, energy and utilities, manufacturing, telecom and financial services sectors and help them advance in their respective industries.
