Capgemini acquires Italian firm Aive for Euro 42.9 million

MUMBAI: Consulting, technology and outsourcing services provider Capgemini on Wednesday said it has acquired Italian IT service provider Aive from three private equity firms (Emerald, Fidia and Athena Private Equity).

The deal will be based on an enterprise value of Euro-42.9 million and be financed by the Capgemini Group's net cash, it said in a statement here. The contract was signed under a conditional approval by the Italian anti-trust authorities, it added.

"This acquisition will strengthen our market position centred on project-based, customised solutions with a set of pre-configured solutions," said Capgemini CEO Application Services ( Continental Europe) Olivier Sevillia.

"Together with Aive, we will become the leaders in Italy on Microsoft Dynamics and one of the leaders in implementations of SAP applications. This will enable our clients to benefit from a full range of alternatives to fit their needs. The integration of Aive will consolidate our market position enabling further expansion in Italy, which is part of our present strategy," he added.

Capgemini's previous acquisitions include Prosodie, Avantias and Artesys in France, BI Consulting Group in North America and CS Consulting in Germany. Capgemini Italia had registered Euro 150 million as its revenues for 2010.