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Capgemini targeting emerging market buys

European tech consultancy Capgemini seems to be hungry for more acquisitions in emerging markets backed by a strong cash book.

, ET Bureau|
Dec 09, 2010, 02.07 AM IST
CHENNAI: Even before the ink could dry on the last deal it signed, European tech consultancy Capgemini seems to be hungry for more acquisitions in emerging markets backed by a strong cash book, the firm’s chief executive Aiman Ezzat told Sangeetha Kandavel of ET. “We continue to seek acquisitions in emerging markets.

We are look-ing at Brazil and China as there are tremendous opportunities in both these markets,” he told ET during his recent visit to Chennai. At the end 2009, the company had net cash and cash equivalents of around e1.26 billion.

Ezzat says India has been instrumental in helping Capgemini drive businesses and expects 50% of its workforce to be based out of India in the coming years. Right now, the company has 30,000 employees on its rolls.

“The company is looking at IT services and at BPOs since this is where our focus would be in the near term. Some discussions are there and we would start involving aggressively beginning 2011 or as and when we get an opportunity,” he said. However, Aiman remained tight-lipped about the likely size of the deals or the names of companies that they have targeted.

In 2010, the firm has already bought Strategic Systems Solutions, a small company specialising in capital market solutions and Plaisir In-formatique, a French company working on complex data migrations in the banking and insurance sector. In September 2010, the company acquired CPM Braxis, a Brazilian IT consultant company while in No-vember 2010, it acquired the India-based IT services company, Thesys Technologies, which provides banking solutions to global financial services firms.

For Capgemini, China is an interesting market as most global players are present there. “The China market is growing and it is an important market for us like India. There is an internal market where we have already been investing,” he said.

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