CGI has successfully completed the acquisition of Acando AB, a leading Northern European consultancy specializing in management and digital services. This strategic transaction significantly expands the organization's technical capacity and operational density in key European markets, particularly within Sweden, Norway, and Germany. The rationale for the move centers on the integration of specialized strategic consulting and system integration capabilities, which complement the group’s existing portfolio of end-to-end digital transformation solutions. By incorporating a highly skilled workforce across metropolitan hubs like Stockholm and Hamburg, the organization reinforces its expertise in mission-critical industries such as manufacturing and retail. The partnership is designed to leverage a strong cultural compatibility and a shared focus on customer satisfaction to drive regional growth and capture additional market share in the European IT services landscape. This integration allows the group to offer enhanced innovation-led services while maintaining its localized delivery model. The acquisition marks a significant step in the group’s expansion strategy, positioning it as a dominant player in the Northern European technical services market.

ACANDO, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 13.0x average currently observed in the TMT (Tech, Media, Telecom) sector.

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