French IT services company Capgemini (CAP.FR) said Thursday it has reached an agreement with shareholders of CPM Braxis to acquire a 55% stake worth EUR233 million in the Brazilian IT services company.

The enterprise value of CPM Braxis is estimated at EUR437 million and it forecasts EUR450 million revenue in 2010, Capgemini said in a statement.

The purchase will be funded by cash. It will be carried out through a CPM Braxis share capital increase of EUR129 million, and a share buy-back from CPM Braxis' existing shareholders for EUR104 million.

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.

Capgemini said it will consolidate CPM Braxis in its accounts as of the transaction's expected closing in early October.

The acquisition will allow Capgemini to extend its presence in a fast-growing market, said Chief executive Paul Hermelin.

-By Angeline Benoit, Dow Jones Newswires; +33 1 4017 1740; angeline.benoit@dowjones.com
Capgemini (PK) (USOTC:CGEMY)
Historical Stock Chart
Von Jun 2024 bis Jul 2024 Click Here for more Capgemini (PK) Charts.
Capgemini (PK) (USOTC:CGEMY)
Historical Stock Chart
Von Jul 2023 bis Jul 2024 Click Here for more Capgemini (PK) Charts.