CMG Plc, the Anglo-Dutch systems integrator, has expanded its footprint in France, paying FF33m ($5.4m) for Eurasoft SA, an insurance sector software developer. CMG has bought its way into France over the last 18 months to compete with systems integrators like Cap Gemini and Sema Group with the acquisitions of Alias, Cometh and Techside (CI No 3,488).
Eurasoft will add 45 personnel to CMG’s 400 staff. The Paris firm recorded turnover of FF14.7m ($2.4m) last year and operating income of FF3.5m ($0.5m). France is CMG’s fourth largest market in Europe, after the Netherlands, UK and Germany. France is ripe for further growth, according to CMG, with an IT skills shortage making the market an attractive one for further purchases. Although CMG has skills and customers in financial services, enterprise resource planning and advanced technology, the London-based services company is still eyeing the French market for acquisitions in the transport, logistics and manufacturing sectors.
