Capgemini, a provider of consulting, technology and outsourcing services, has acquired 55% interest in CPM Braxis, a Brazilian IT services company, for BRL517m (€233m).
The acquisition has been funded using the Capgemini’s net cash position and will see the joining of 5,700 team members from CPM Braxis.
The company said that this acquisition will enable it to serve as new base of local clients, and also support its international clients in their developments in Brazil.
Capgemini Group CEO Paul Hermelin said this acquisition marks a new step in their growth strategy, allowing them to extend their presence in a fast-growing market.
"Long-term, our objective is to make 10% of our revenues in the emerging markets," Hermelin said.
Capgemini said that it has an option to buy the remainder of CPM Braxis’ capital (45%), and the existing shareholders have an option to sell their remaining shares which can only be exercised between the 3rd and the 5th anniversary of the closing date.
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