Capgemini is to pay $29 per share in cash, representing a premium of 15.9 percent to Kanbay's closing share price on October 25. The acquisition would boost Capgemini's earnings per share (EPS) by more than 5 percent in 2007 and 10 percent in 2008 and triple Capgemini's workforce in India to some 12,000 people.
The transaction is expected to close by early 2007, the companies added in a joint statement.
With revenue of over $400 million euros, Kanbay Inc. is headquartered in Chicago. It has offices in North America and India and employs 6,900 people worldwide, including 5,000 in India.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.