Gide Loyrette Nouel (GLN) has advised Capgemini Asia Pacific, part of the global Capgemini group (Capgemini), on its acquisition of Praxis (Beijing) Technology Ltd (Praxis), a specialist developer and provider of IT services in China.
Capgemini offers a suite of IT, consulting and outsourcing services in Asia Pacific and has experienced significant growth in the region. The acquisition of Praxis represents Capgemini’s first acquisition of a China based company and forms part of Capgemini’s strategy to expand its presence in China through strategic acquisitions of growth companies. The acquisition of Praxis, a mid sized technology company with a leading position in utilities and SAP solutions, will enable Capgemini to enhance its IT service offering, including SAP services.
The transaction will involve Capgemini acquiring 100% of the shares in Praxis and is expected to close in mid to late 2011, following receipt of all relevant regulatory approvals and licences. The transaction has already received approval from the Ministry of Commerce.
GLN advised Capgemini on all aspects of the acquisition including structuring, negotiation, documentation and regulatory formalities. The GLN team in Beijing advising Capgemini was led by Thomas Urlacher in Beijing, with assistance from Sun Jin and Xue Bing.
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