Capgemini, a global leader in consulting, technology and outsourcing services, has announced the acquisition of German information technology services provider CS Consulting GmbH from its previous owner LRPC, a fund managed by Süd Beteiligungen, a private equity arm of Landesbank Baden-Württemberg, founder Berndt Blumenthal and Dr. Kurt Rommel. The agreement was signed yesterday under conditional approval by the relevant anti-trust authorities. The acquisition will more than double Capgemini's market share in IT services for banking clients in Germany.
CS Consulting is an IT consulting firm that specializes in the banking and insurance industry. Founded in 1984, the firm has consistently chalked profitable growth above the market average. In 2009, it generated EUR 47.4m in revenue.
CS Consulting employs more than 400 experienced consultants and specializes in migration of core banking systems and business intelligence systems implementation. It is a leader in IT consulting and system integration in Germany, known for its innovative solutions and ability to develop complex applications for its clients in the banking sector.
Olivier Sevillia, Member of Capgemini Group Executive Committee, said, "The service portfolio and company culture of CS Consulting, which focuses on reliability of services, independence in terms of consulting and strong collaborative client approach, fit perfectly with Capgemini. With this step, we are giving a clear signal for the further growth of our business in Germany."
Berndt Blumenthal, CEO of CS Consulting, said, "Joining Capgemini will enable us to benefit from the experience of a truly international Group with a solid delivery network, and to offer promising perspectives to our employees. We will combine our strengths to serve German banks expansion and transformation."