The fastest way to expand the existing business is by acquiring another company. And it appears that Europe's biggest IT services company
According to the news daily, if the deal gets striked, it will be one of the biggest M&As in the IT services arena.
The TOI futher reported that in 2014, Igate had $1.27 billion as revenue. And now, its market capitalization stands at $3.6 billion.
The speculation about Igate being sold started soon after
Currently, Apax owns 29% stake in Igate, while Igate founders together hold 25% of the shares. According to the TOI report, Capgemini is looking at acquiring the 54% stake held by the promoters and Apax initially. However, it may later take Igate private by buying out the shares of other shareholders, sources told TOI.
Capgemini told TOI, "We do not comment on market rumours or speculation." Igate had not responded to queries at the time of going to print. There had been talk of French IT company
Peter Bendor Samuel, CEO of
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