Global IT services provider and consultancy firm Capgemini has acquired 100 per cent of the AIVE Group from three private equity funds – Emerald, Fidia and Athena Private Equity – and also from AIVE's management, for $62.12 million (42.9 million Euros), the company has said in a statement on Wednesday.

“This acquisition 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 based on an enterprise value of 42.9 million Euro ($62.12 million) and will be financed by the Capgemini Group’s net cash,” the company has added.

Prior to acquiring AIVE, Capgemini has acquired Prosodie, Avantias and Artesys in France; BI Consulting Group in North America and CS Consulting in Germany, as part of its strategy to expand in traditional markets.

Capgemini is headquartered in Paris and operates across 40 countries, with 112,000 employees on board and a turnover of $12.59 billion (8.7 billion Euro). The company provides consulting, technology and outsourcing services. The firm has operations in Italy as well. Capgemini Italia reported revenues of $217 million (150 million Euro) in 2010 and employs 1,800 experts.

“This acquisition will strengthen our market position, centred on project-based, customised solutions. This will also enable our clients to benefit from a full range of alternatives that will fit their needs. The integration of AIVE will consolidate our market position, enabling further expansion in Italy, which is part of our present strategy,” said Olivier Sevillia, CEO, Application Services (Continental Europe), and member of the Capgemini Executive Committee.

AIVE Group is based out of Mestre (Venice) and provides system integration services, software and IT consulting to numerous medium and large national and international companies. Group AIVE includes three business units: AIVE BS (Business Solutions for medium-sized clients), AIVE I&C (Integration & Consulting for large customers) and AIVE BST (application solutions specific to banking and insurance sectors).

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