Paris, Hanover, Dec. 15, 2010 – The operation will be funded using the Group’s net cash position. The contract was signed yesterday under conditional approval by the relevant anti-trust authorities. Thanks to this strategic move in Germany, Capgemini more than doubles its market share in IT services for local banking clients and accordingly strengthens its presence in a promising market.
CS Consulting was founded in 1984 and is a leading, innovative IT consultancy focusing on German banking and insurance industry. The company has a strong history of profitable growth above market average. It generated revenues of EUR 47.4m in 2009 with an adjusted EBIT margin of 12.6%. It benefits from a highly experienced team of over 400 consultants. CS Consulting specializes in the migration of core banking systems as well as the implementation of business intelligence systems. The company’s client base consists of large companies, mainly within the state banks (Landesbanken) and saving banks (Sparkassen), being served for multiple years. CS Consulting belongs to the top-25 companies of leading IT-consulting and system integration providers in Germany1.
By integrating CS Consulting to its German operations, Capgemini reinforces its footprint in a still growing and highly attractive market, as the upcoming transformation of banks will notably trigger high IT demands. Capgemini also strengthens its position as a powerful partner for banks benefiting from CS Consulting’s recognized capabilities for big and complex application development and maintenance engagements.
Berndt Blumenthal, CEO of CS Consulting: “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.”
“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”, explains Olivier Sevillia, Member of Capgemini Group Executive Committee.
Capgemini, one of the world’s foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working, the Collaborative Business ExperienceTM. The Group relies on its global delivery model called Rightshore®, which aims to get the right balance of the best talent from multiple locations, working as one team to create and deliver the optimum solution for clients. Present in more than 35 countries, Capgemini reported 2009 global revenues of EUR 8.4 billion and employs over 100,000 people worldwide. More information is available at www.capgemini.com.
Rightshore® is a trademark belonging to Capgemini.
1 On the Luenendonk® list of leading IT consulting and system integration providers in Germany Capgemini (calculated excluding the management consulting business) and CS Consulting are ranked 4 and 24. Luenendonk is a leading German market analyst providing a public list of the biggest IT companies in Germany in terms of revenues.