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UPDATED: French Appeal Court Rejects Request for Suspending Capgemini’s Offer for Altran
The Paris Court of Appeals rejected this morning ADAM’s request for suspension of the Capgemini tender offer for Altran’s shares.
Akka Raises EUR 175m in Convertible Bonds. But Why?
We don’t usually comment on the financial performance of ER&D service vendors beyond their financials. But this time, this is a little bit different: Akka Technologies raised yesterday EUR 175m in convertible bonds, a significant amount for Akka, which has a market cap of EUR ~EUR 1.2bn.
Capgemini’s Acquisition of Altran Delayed by Elliott by Up to Five Months
Capgemini’s acquisition of Altran will be delayed by up to six months. Edge Fund Elliott has, through intermediaries, brought, the case to court. The initial ruling on December 4 will decide if the acquisition will be suspended. A final ruling will occur by end of the March at the latest.
TCS acquires parts of GM’s Technical Center in Bengalore
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Capgemini’s acquisition of Altran in trouble?
Capgemini’s proposition of Altran for EUR 14 per share is getting more complicated.
Assystem’s nuclear M&A strategy in a dead-end?
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US giant Jacobs Engineering acquires Wood’s nuclear engineering business
Jacobs Engineering, a US infrastructure giant, is to acquire the nuclear engineering business of (another infrastructure giant in the UK) Wood. Jacobs is paying an enterprise value of USD 300m.
UPDATED: Segula finalizes its outsourcing contract with PSA. Reduced scope!
PSA finalized its outsourcing contract with Segula, almost one year after it was announced. Looking at the details, the scope of the contract is much smaller than expected, with the people transfer initially involving 700 employees, rather than the 2,000 expected. Segula has agreed to take over the new engineers and guaranteed similar wages and benefits and also purchasing buildings and facilities.
Capgemini open to show flexibility on Altran ownership structure
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’s take on Capgemini’s acquisition of Altran
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.
HCL Tech completes the acquisition of IBM software products
HCL Tech has closed the acquisition of several IBM products. The company has now ownership of AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica. We assume the price of the transaction has not changed and still is USD 1.8bn.
Capgemini to acquire Altran for €5.0bn: early thoughts
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.
Cognizant to acquire Zenith Technologies and strengthens its MES capabilities for the life science industry
Cognizant has been making more headlines in ER&D services, recently. Last month, we had mentioned its
Dassault makes its largest acquisition ever. Spends USD 5.8bn in cash for a clinical trial ISV, Medidata
We usually do not comment on the M&A activities of major PLM ISVs. However, Dassault Systèmes’ acquisition of Medidata, an NYC-headquartered ISV specialized in software to manage clinical trials and commercial launches, is worth a thought or two.
Altran phases out the Aricent brand
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
AE Industrial Partners makes further scope changes between Belcan and CDI Corp
Private equity (PE) firm AE Industrial Partners (AE) continues to adjust the scope of its portfolio companies and transferred Schafer from Belcan to Gryphon Technologies.
L&T to launch a hostile take-over over Mindtree
If you follow what’s going in India, you are probably well aware that the manufacturing conglomerate Larsen & Toubro (L&T) has acquired 20.3% of Mindtree, from a passive promoter (the Indian term for key shareholders, usually founders).
Cyient takes full control of Rangsons Electronics
Cyient has acquired the remaining 26% in Rangsons Electronics it did know own, for ~USD 60m. The name Rangsons Electronics may not ring a bell, as Cyient now reports the business under the name DLM.
2018: A Year in Review
2018 was an eventful year: the top ER&D vendors accelerated their M&A activities. Alten continued to deploy its business model. HCL Tech’s ERS unit had a superb year
ÅF acquires Pöyry: part 2: our take on the deal
A visual analysis of the acquisition by ÅF of Pöyry
ÅF acquires Pöyry: part 1 – shape of the combined firms
ÅF and Pöyry have provided some light on the combined ÅF Pöyry. ÅF Pöyry will have revenues
ÅF makes its “platform” acquisition with Poyry
ÅF is to acquire Finland-headquartered Poyry, for EUR 611m in cash. The company is offering a
HCL Tech and IBM (Part 4) A right move?
The USD 1.8bn HCL Tech deal is undoubtedly impressive and does raise many questions about the
HCL Tech and IBM (Part 3) More details about the deal: rationale and scope
We learned a bit more about the rationale of this USD 1.8bn deal under which HCL