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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