About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Capgemini Acquisition of IGATE Adds Financial Services Customers, Revenue and Technologies

Subscribe to our newsletter

Capgemini is set to fulfil its long-term aim of building presence in North American markets through a $4 billion acquisition agreement with New Jersey based technology and services company IGATE. The deal is expected to close in the second half of this year and will make North America Capgemini’s largest region, representing 30% of estimated combined revenues of €12.5 billion in 2015.

The acquisition will also reinforce Capgemini’s financial services business as 42% of IGATE’s total revenues of $1.3 billion are generated from the sector. Financial services clients transitioning to Capgemini include Royal Bank of Canada. The enlarged company will also benefit from IGATE’s Data Management Services business, which is dedicated to the investment banking industry and is developing shared services based on the data utility model and built on Markit’s enterprise data management platform.

The acquisition adds 33,000 IGATE employees – some 75% are based in India – to Capgemini’s 145,000 and is expected to result in over 100,000 employees working in Capgemini’s Rightshore outsourcing and near-shore delivery centres. It will also add over 250 clients, cross selling opportunities and revenues that will promote Capgemini into the league of Indian technology players such as TCS and Infosys, but not into the premier league dominated by US headquartered Accenture.

Capgemini and IGATE forecast a smooth integration period, with a new organisation in place within three months of closing and integration of the companies expected to be complete within nine months. Paul Hermelin, long-standing chairman and CEO of Capgemini, said: “IGATE is a leading company that perfectly fits our strategic ambition. It will give us a new status on the American market and take our industrialisation journey further to offer ever more competitive services to our clients.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Cross-Regulation Data Consistency and Accuracy

Regulatory reporting obligations continue to expand, bringing with them more overlaps of data elements across reporting regimes. As many firms struggle with the accuracy and completeness of individual reporting obligations, regulators have increasingly begun to focus on cross-regulation data consistency in their data validations and examination processes. This webinar will identify cases of data overlap...

BLOG

GoldenSource Adds Real-Time IBOR Powered by MAIA Technology

GoldenSource, a provider of enterprise data management and master data management solutions, has released GoldenSource IBOR, a real-time investment book of record. The IBOR is powered by Multi Asset Investment Architecture (MAIA) Technology’s high-capacity IBOR solution and can update valuations as transactions and prices are published, regardless of the source or time of day. Positions...

EVENT

ESG Data & Tech Briefing APAC

Join us in one of the greenest cities in the world as we bring together thought leading ESG specialists to explore how financial institutions are adapting to the evolving ESG regulatory and market infrastructure.

GUIDE

Regulatory Data Handbook 2019/2020 – Seventh Edition

Welcome to A-Team Group’s best read handbook, the Regulatory Data Handbook, which is now in its seventh edition and continues to grow in terms of the number of regulations covered, the detail of each regulation and the impact that all the rules and regulations will have on data and data management at your institution. This...