#CBC: “CGI Group moves to expand in northern Europe with takeover of Affecto – Business”


The Canadian Press
Posted: Aug 22, 2017 11:41 AM ET
Last Updated: Aug 22, 2017 11:41 AM ET

Canada’s largest publicly traded IT services business is moving to expand its presence in Europe through the acquisition of Affecto PLC in a friendly deal that would add about 1,000 staff in northern Europe.

CGI Group Inc.  — which currently has 8,000 employees in the Nordic region — is offering the equivalent of $146-million cash for Helsinki-based Affecto, or 4.55 euros per share.

That’s 29.3 per cent above the closing price of Affecto shares at Monday’s close on the Nasdaq Helsinki exchange.

The Montreal-based company’s offer has several conditions, including that CGI gain control of more than 90 per cent of Affecto’s shares.

CGI chief executive George Schindler says the addition of Affecto is part of a plan to profitably double the size of CGI over the next five to seven years.

CGI currently has about 70,000 employees in the Americas, Europe and the Asia-Pacific region, making it one of the world’s largest independent providers of IT and business process services.

context: container

window.onSendDone = function (event) {
if(event.providers) {
var providers = event.providers.split(“,”);
for(i = 0; i

Note: “Previously Published on: 22 August 2017 | 3:41 pm, as ‘CGI Group moves to expand in northern Europe with takeover of Affecto – Business’ on CBC RADIO-CANADA. Here is a source link for the Article’s Image(s) and Content”.

CBC Radio-Canada

Copyright © CBC Radio-Canada. All rights reserved. Distributed by the PressOcean Media. Contact the copyright holder directly for corrections or for permission to republish or make other authorized use of this material... Articles and commentaries that identify the PressOcean as the publisher are produced or commissioned by the PressOcean Media. To address comments or complaints, please Contact us.


No comments!

There are no comments yet, but you can be first to comment this article.

Leave reply

Leave a Reply, an Opinion or a Comment: