By Ramone Param, Director, Equiteq
- Industry deals profiled include CGI’s offer to acquire Acando, Accenture’s purchase of Enterprise System Partners and Version 1’s acquisition of TE4B.
- The Equiteq Knowledge Economy Share Price Index was broadly flat over the month.
CGI makes recommended offer to acquire Acando to strengthen its capabilities in Northern Europe.
Target: Acando is an IT and management consulting business headquartered in Sweden.
Buyer: CGI Group is a Canada-headquartered IT services and business consulting firm.
Deal size: $459m (1.5x TTM revenue)
Deal insight:CGI is a global technology services player with a strong model of organic growth and M&A. The buyer has made numerous acquisitions over recent years that have expanded its global consulting and technology capabilities. Its most recent offer to acquire Acando will deepen its presence in Northern Europe adding over 2,100 professionals across the region. The purchase will expand the buyer’s strategic consulting, system integration and digital innovation capabilities. The deal builds on CGI’s €98m acquisition of Affecto in 2017. Affecto is a data analytics business headquartered in Finland.Continue reading