Capgemini $4 billion acquisition of iGate

Overview:

• Paris based Capgemini has acquired US/Indian IT firm iGate for approximately $4 billion.
• iGate shareholders will receive $48 a share.
• The purchase is being completed through a mix of cash, debt and new stock. The deal will add about 33,000 staff to Cap Gemini.
• A bridge financing for the acquisition was provided by by Barclays, BNP Paribas, Crédit Agricole, HSBC France, Morgan Stanley and Société Générale.
• Skadden Arps Slate Meagher & Flom acted for Capgemini along with Indian counsel Luthra & Luthra.
• Kirkland & Ellis and Pepper Hamilton acted for the sellers alongside Khaitan & Co as Indian counsel.
• Cleary Gottlieb Steen & Hamilton (Fabrice Baumgartner, Carlo de Vito Piscicelli, Olga Kharitonova) advised Capgemini on the financing.

Sam Duke - Editor