Cap Gemini and Ernst & Young have agreed terms for the acquisition of Ernst & Young Consulting.

0 Comments | M2 Presswire, February, 2000

M2 PRESSWIRE-29 February 2000-CAP GEMINI: Cap Gemini and Ernst & Young have agreed terms for the acquisition of Ernst & Young Consulting (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:29022000 Cap Gemini and Ernst & Young have reached an agreement on the terms and conditions for combining their consulting and IT services which would give birth to a leading player in the sector.

Pursuant to the agreement: * Cap Gemini will acquire almost all of the Ernst & Young Consulting business, with headcount of approximately 18,000 and 1999 revenues of around Euro 3.5 billion; * Cap Gemini will issue new shares in exchange for the Ernst & Young Consulting businesses in the respective countries contributed to the transaction. The completion of the transaction is...