Capgemini to Acquire Cloud4C: CCI Clearance Sought

New Delhi, Aug 29 (PTI) French IT services major Capgemini has sought clearance from the Competition Commission of India (CCI) to acquire full ownership of Singapore-based Cloud4C.

The development comes after Capgemini announced on Tuesday that it has signed an agreement to acquire Cloud4C, a leader in hybrid cloud platform services.

"The proposed combination involves the acquisition of 100 per cent of the shares of target 1 (Cloud4C Services Pte Ltd) and target 2 (Cloud4C Services Pvt Ltd) by the acquirer (Capgemini SE)," according to a notice filed with the CCI.

Headquartered in Paris, Capgemini is a leading multinational in consulting, digital transformation, technology, and engineering services. The company has a significant presence in India, which serves as one of its largest delivery bases globally.

Cloud4C is engaged in the provision of information technology/information technology enabled services in India.

The parties said the "activities of the acquirer and the targets overlap in the market of provision of IT/ITeS services in India at a broad level."

However, the definition of the relevant market may be left open since the proposed combination cannot cause any appreciable adverse effect on competition in India, it added.

On Tuesday, Capgemini said it has signed an agreement to acquire hybrid cloud platform services firm Cloud4C.

This deal came on the heels of Capgemini's announcement last month to acquire business transformation services firm WNS for USD 3.3 billion, excluding debt to expand the range of AI tools it offers for companies.