Capgemini buys in Czech Republic
Capgemini, one of the largest ITO companies in the world, has moved to purchase Empire, a privately-held, Czech-based IT services and consulting company and its subsidiary Sophia Solutions, a local expert in Business Intelligence and Data Warehouse.
Through this acquisition and in line with its strategy, Capgemini will further develop its presence in mature Eastern European countries. The acquisition will add 165 new employees to Capgemini.
Under the terms of the share purchase agreement, Capgemini will acquire 100% shares of Empire and 70% of Sophia Solutions paid in cash. Capgemini will be able to acquire the remaining 30% of the shares in Sophia via call options over the coming years.
“This acquisition represents a significant step forward for Capgemini in our strategy to accelerate growth in our core Eastern European countries,” said Peter Laggner, CEO Capgemini Eastern Europe. “These companies enhance our Technology Services capabilities in our consulting oriented practice in the Czech Republic. We are looking forward to delivering on the promise of this acquisition and with strongly motivated management teams we aspire for a smooth and successful integration of the company into our country unit, region and Group.”
The transaction is subject to customary closing conditions and it is expected that it will close by the end of December 2008.