Here is how it is summed up.
- Deal is 29$ per share, it is a premium over trading price.
- Kanbay operates in three cities in India - Pune, Hyderabad, Chennai. CapGemini operates from Mumbai, Bangalore and Kolkata (Calcutta). Which means with this aquisition, CapGemini doubled number of sites in India. A smart move.
- Allows CapGemini to reach 12000 headcount in India.
- Allows CapGemini to consolidate in Financial Services Industry.
What is Kanbay anyway? Here is some dope.
- Kanbay name is based on Canada and Bombay, two of the founders came from these two places. Interestingly enough, Kanbay does not have a presense in this two places.
- In 2005, Kanbay acquired Accurum - a IT service provider in Capital Market segment.
- In 2006, Kanbay acquired Adjoined Consulting, a tier 3 IT Services company.
- At the end, it gets aquired by CapGemini, a tier 1 IT Services company.