iGATE CorporationNASDAQ
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  • Apr. 27, 2015, 4:15 AM
    • Looking to make North America its largest market, Cap Gemini (OTCPK:CGEMY) plans to buy U.S.-based iGATE (NASDAQ:IGTE) for $4B, or $48 per share.
    • The deal, which has been agreed on by both boards, will be financed through a combination of the French company's cash, debt and an equity portion that will not exceed a 6% dilution of its share capital.
    • Cap Gemini also expects the acquisition to enhance earnings by 12% in 2016 and 16% in 2017.
    • Previously: IGATE reportedly sees buyout interest; shares +4.2% (Apr. 17 2015)
    | Apr. 27, 2015, 4:15 AM
  • Apr. 17, 2015, 10:00 AM
    • India's Business Standard reports French IT firms Capgemini and Atos are in early-stage talks to acquire IGATE (NASDAQ:IGTE).
    • Capgemini/Atos are said to be negotiating with P-E firm Apax Partners (owns a 29% IGATE stake), which is said to be looking for an exit after converting a $480M loan to IGATE into equity.
    • No word on a potential buyout price; IGATE's market cap currently stands at $3.6B. Shares are within $2 of a 52-week high of $45.72.
    | Apr. 17, 2015, 10:00 AM