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India: CCI approves $4 billion I-Gate deal

By  |  July 2, 2015

French IT services company Capgemini’s $4-billion deal to acquire IGATE has received the go ahead from the Competition Commission.

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    The fair trade regulator, which keeps a tab on unfair business practices across sectors, has approved the acquisition as the deal may not have an adverse impact on competition in the country.

    “CCI (Competition Commission of India) approves the acquisition of iGate by Capgemini,” it said in a tweet. Capgemini, in April, said it will buy IGATE Corp — a US-based company with a large presence in India — for $4 billion in cash to create an entity with a combined revenue of $14 billion to take on rivals such as IBM.

    Full content: The Economic Times

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