Finexi, an independent firm appointed by Altran to examine Capgemini’s proposal to acquire Altran for EUR 14 per share, concluded that Capgemini’s offer is “fair”.
Still aiming to take control of Altran, Capgemini is open to show flexibility in its ownership structure. The company targets at least 50.1% of the shares of Altran and will accommodate large minority shareholders.
NelsonHall has posted an analysis of the Capgemini acquisition of Altran. NelsonHall is taking a Capgemini and IT services perspective, whereas, in this blog, we have made comments with our ER&D lenses. Enjoy.
Capgemini is to acquire Altran, for €5.0bn, including €3.6bn in cash and Altran’s net debt of €1.4bn (gross debt of €1.8bn). The company has already secured the 11% stake in Altran that Apax Partners holds and will rely on the financing, on its €1bn cash position and a €4.4bn bond issue.
Altran provided some light on January 24, 2019, cyber attack that affected its operations in several countries in Europe. The company isolated malware and avoided its contamination and propagation to clients. Altran’s systems are now up and running.
Altran achieved in Q1 2019 a CC/CS growth yoy of 8.1% despite the impact of the decline in revenues of Aricent (-2% at CC/CS) and its cyber-attack (impacting the revenue growth of Altran by 200 bps).
Altran has phased out the Aricent brand in North America and now trades under the Altran brand. The company highlights it now has three primary brands: Aricent for its core ER&D services, Cambridge Consultants for its “innovation consulting” capabilities, and Frog for product design
We are now entering the season for Q1 earnings, and as always we will look into changes in major trends. The state of the automotive industry will be an area we will be closely monitoring.
It is striking to see how few onshore ER&D service vendors have built a significant Indian or nearshore presence. Onshore vendors do acknowledge that the Indian ER&D service vendors grow faster than they do but argue that most of the Indian vendors service U.S. clients or industries (mostly, ISVs, technology vendors and telecom equipment manufacturers) they do not quite address.
Altran had a yoy CC/CS revenue growth of +10.4% in Q3 2018, with revenues reaching EUR 731m (USD 933m). Growth was broad-based with all major business units back to solid growth. As announced, France, still Altran’s largest geography was
There is a bit of irony about the performance of the stock of Altran on Thursday: Altran announced that it had found no further forgery in the accounts of Aricent. The company provided more light on how and where
By now, everybody probably knows that Altran’s market cap was down 28% today after the company discovered late June, $10m in forged purchase orders in the accounts of Aricent (before its acquisition in Q1 2018). The forged purchase order
Altran has unveiled its much-awaited 2022 strategic plan, called The High Road. Contrary to the previous strategic Ignition 2022, which was about about reinvention and business model transformation, this one strategic plan is about integration of existing assets, about
Altran, Alten, and Akka have in the past year accelerated their expansion into the US ER&D services market. It is striking to see how they have taken different routes. Altran swallows Aricent and gets scale in the US telecom