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Friday, October 27, 2006
Kanbay Gets Acquired By CapGemini
The rumour comes true – for sometime, it was doing the rounds that Kanbay may get acquired. Kanbay gets acquired by CapGemini. Apparently, EDS & IBM were also trying to acquire Kanbay. The valuation clearly shows that competition had been there in acquiring Kanbay. Kanbay has strengths in financial services consulting amongst other things. The move may help the revival of CG. They are said to be selling their shares to fund the acquisition. While reacting to the news of EDS-Mphasis coming together, I wrote earlier this year that more offshore companies with annual turnover less than 200 million may choose to sellout. The room for midsized firms looks limited. Am already hearing that few more mid sized offshore firms may choose to get acquired. Wait for more action.
Category :Offshoring,Consolidation |
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