CGI Group moves to enhance in northern Europe with takeover of Affecto

Canada’s largest publicly traded IT services business is relocating to enhance a participation in Europe by a merger of Affecto PLC in a accessible understanding that would supplement about 1,000 staff in northern Europe.

CGI Group Inc.  — that now has 8,000 employees in a Nordic segment — is charity a homogeneous of $146-million money for Helsinki-based Affecto, or 4.55 euros per share.

That’s 29.3 per cent above a shutting cost of Affecto shares during Monday’s tighten on a Nasdaq Helsinki exchange.

The Montreal-based company’s offer has several conditions, including that CGI benefit control of some-more than 90 per cent of Affecto’s shares.

CGI arch executive George Schindler says a further of Affecto is partial of a devise to profitably double a distance of CGI over a subsequent 5 to 7 years.

CGI now has about 70,000 employees in a Americas, Europe and a Asia-Pacific region, creation it one of a world’s largest eccentric providers of IT and business routine services.

Article source: http://www.cbc.ca/news/business/cgi-affecto-1.4257167?cmp=rss