Capgemini, one of the foremost providers of consulting, technology and outsourcing services, has announced the acquisition of 100% of AIVE Group, one of the leading Italian IT service providers, from 3 primary private equity funds (Emerald, Fidia and Athena Private Equity) and AIVE’s management.

This strategic move will enable Capgemini to strengthen its application portfolio as well as its SaaS (Software as a Service) positioning and its market share in IT services in Italy. The operation will be done based on an enterprise value of EUR 42.9 million and will be financed by the Capgemini Group’s net cash. The contract was signed under conditional approval by the Italian relevant anti-trust authorities.

This transaction following the acquisitions of Prosodie, Avantias and Artesys in France, BI Consulting Group in North America and CS Consulting in Germany, highlights the Group commitment to continue expanding in its traditional markets. Capgemini Italia reported 2010 revenues around EUR 150 million and employs 1,800 experts. Despite the recent harsh economic times for the IT Italian market, Capgemini Italia registered high single digit average annual growth over the last 4 years.

Olivier Sevillia, CEO Application Services (Continental Europe) and member of Capgemini Executive Committee, declares “This acquisition will strengthen our market position centered on project-based, customised solutions with a set of pre-configured solutions; as an example, together with AIVE, we will become the leaders in Italy on Microsoft Dynamics and one of the leaders in implementations of SAP applications, with more than 450 dedicated professionals. This will enable our clients to benefit from a full range of alternatives to fit their needs. The integration of AIVE will consolidate our market position enabling further expansion in Italy, which is part of our present strategy.”