A PYMNTS Company

France/India: CCI approves acquisition of iGate by Cap Gemini

By  |  July 6, 2015

French IT services company Cap Gemini S.A’s $4 billion deal to acquire iGate, Inc., has got the approval from the Competition Commission of India.

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 Cap Gemini,” it said in a tweet.

Cap Gemini said in April that it will buy iGate, a US-based company with a large presence in India, for Rs.4 billion in cash to create an entity with a combined revenue of Rs.14 billion to take on rivals like International Business Machines.

Full content: Money Control

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.