Capgemini Finalizes Acquisition Of Brazil's CPM Braxis
14 October 2010 - 3:30AM
Dow Jones News
French information technology company Capgemini SA (CAP.FR) said
Wednesday it has finalized its acquisition of a 55% interest in
Brazilian IT company CPM Braxis for a total amount equivalent to
EUR233 million.
The takeover, announced in September, was funded using
Capgemini's net cash position.
CPM Braxis has a diversified business portfolio focused on
applications outsourcing and infrastructure management, serving
more than 200 clients, including large Brazilian companies.
The company saw revenue growth of 12% in 2009 and should grow by
nearly 20% this year, to reach EUR450 million. Its operating margin
should reach 6% and looks set to rise over the years to come,
Capgemini said.
Capgemini has an option to buy the remaining 45% of CPM Braxis'
capital, and the existing shareholders have an option to sell their
remaining shares.
-By David Pearson, Dow Jones Newswires; +331 4017 1740,
david.pearson@dowjones.com
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