Kanbay Agrees to be Acquired by Capgemini

The merger transaction had been announced on October 26, 2006 and now has closed. For Capgemini, the acquisition means that its financial services will be enhanced with a greater amount of business both in the United States, the United Kingdom and India. In fact, India becomes the second largest country in the Capgemini Group and provides presence for the company in six major cities there: Mumbai, Kolkata, Pune, Hydrabad, Chennai and Bangalore.

Among other vertical markets in which the combined company will enjoy strong mutual market knowledge are telecommunications, media, life sciences, travel and leisure. It will also enhance industry expertise in financial services in which it accounts for 22% of the global IT market. As the company notes, with the close of this deal, it becomes a supplier to more than 900 financial institutions around the world, retail banking and major entities in the payments and insurance solutions markets.

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