In an attempt to boost its presence in the European IT services market, Cap Gemini SA, parent company of Cap Gemini Ernst & Young Group, has filed an all-share bid for French systems integration company Transiciel SA, it said Monday.
Transiciel will be merged with Cap Gemini’s Local Professional Services division, Sogeti, to create a company with over 13,000 staff and a turnover of more than 1.1 billion euros (US$1.3 billion), Cap Gemini said in a statement.
The friendly offer values each Transiciel share at 12.95 euros, a premium of 23.1 per cent over the company’s one-month average share price, Transiciel said in its own statement. The offer has been favourably received by Transiciel’s board, and Georges Cohen, Transiciel’s founder, chairman and chief executive officer (CEO), has agreed to contribute all of his own shares to the offering, Transiciel said.
Cohen will head the new combined division alongside Sogeti’s current managing director, Luc-Fran