Capgemini: UBS pleasantly surprised by takeover of Altran

(CercleFinance.com) - Reacting to Capgemini's announcement of its takeover of Altran, for an enterprise value of approximately five billion euros, this morning UBS confirmed its buy rating on the "Cap" share, maintaining its 12-month target price of 122 euros.


Given Cap Gemini's strategy, this transaction is deemed "unexpected" by UBS. That said, Altran is a recognised player in engineering and R&D services, while its workforce (48,000) may be compared with approximately 6,000 Capgemini employees in this domain. This merger will also make Capgemini the leader in the aerospace, semiconductor and telecom sectors. Finally, it promises to be accretive.


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