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French Outsourcing Company Bought By Cap Gemini Ernst & Young

IT consultancy wants to boost its presence in the European professional-services market.
IT consultancy Cap Gemini Ernst & Young has acquired French outsourcing company Transiciel for $284.9 million in a share exchange with an eye to bolstering its presence in segments within the European professional-services market.

Cap Gemini will merge Transiciel's operations into its Sogeti unit, which offers a range of IT services and has a strong presence in the Benelux region. The combined operations of Sogitei and Transiciel will encompass more than 13,000 employees, including 1,200 in the United States, and produce revenue of more than $1 billion.

Transiciel's board of directors has recommended that its shareholders approve the sale.