French Firm Swoops On Brazil IT

French Firm Swoops On Brazil IT

M&A

French technology company Capgemini has acquired a 55% stake in Brazilian peer CPM Braxis for BRL517m in cash. The buyer plans to finance the acquisition through a BRL287m CPM Braxis share capital increase and a BRL230m share buyback from CPM Braxis' shareholders. Capgemini has an option to buy the remaining 45% of the target, which it can exercise between the third and fifth anniversary of the closing date, expected in October. CPM Braxis claims to be the fifth largest IT consultancy in LatAm a

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