Altran acquired by Capgemini

FRANCE IT Services / Consulting & Integration EV €1–10bn

Context

Capgemini, a global leader in consulting and IT services, and Altran Technologies, the world leader in engineering and R&D services, have entered into an agreement for a friendly takeover. The transaction, structured as a cash tender offer at �14.00 per share, values Altran at approximately �3.6 billion. This strategic combination creates a global powerhouse with combined revenues of �17 billion and a workforce exceeding 250,000 employees.

Altran, which reported an EBITDA margin of [members only] in 2018, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x in 2026).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Altran is the global leader in Engineering and R&D services (ER&D), providing high-end technical consultancy and innovation support to the world's largest industrial groups. Headquartered in France, the company operates with a workforce of over 50,000 specialized engineers, known as "Innovation Makers," across more than 30 countries. Its business model is structured to address the complex technological challenges of industries such as Aerospace, Automotive, Defense, Energy, Life Sciences, and Railway. The organization supports its clients throughout the entire value chain, from initial research and conceptual design to manufacturing engineering and lifecycle management.

Ent. Value

€1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

1x–3x

EV / EBITDA

10x–18x

EV / EBIT

[members only]

Historical Financials (EUR)

Year

Rev

EBITDA

EBIT

2018

2017

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REFERENCES

Valuation range: EV €1–10bn

Revenue range: €1–10bn

EBITDA range: €250–500M

EV/Revenue range: 1x - 3x

EV/EBITDA range: 10x - 18x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Altran by Capgemini are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Acquirer: capgemini

FAQ

What transaction does this page cover?

This page covers Capgemini’s acquisition of 100% of Altran, a French company specialised in Consulting & Integration, in 2019.

How was the acquisition of Altran by Capgemini valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €1–10bn band, its EV/EBITDA multiple within the 10x - 18x range, and its EV/revenue multiple within the 1x - 3x range. Exact figures are available to members.

What were Altran’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Altran generated annual revenue estimated in the €1–10bn range and EBITDA in the €250–500M bracket (FY 2018). Detailed financial figures are available to members.

How does the valuation of Altran compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

With an estimated valuation multiple in the range of 10x - 18x in 2019, the transaction reflects historical valuation standards. By way of comparison, in 2026 companies in the TMT (Tech, Media, Telecom) sector are valued at a multiple of 14.6x EBITDA.

What sources support the information on this transaction?

Transaction data and operational intelligence were compiled from independent financial press reporting by specialized M&A publications.

What is mynth?

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