Cegeka is expanding with the acquisition of CTG. In this way, the company acquires a consulting firm that supports organizations during digital transformation.
On the financial side of the acquisition, it was announced that the shares of CTG were acquired for $10.50 per share. The total transaction has a total value of about $170 million.
The acquisition is expected to benefit Cegeka’s future annual results. Annual sales are predicted to rise to 1.4 billion euros by 2024. By comparison, the organisation’s financial report states that Cegeka achieved revenue of 832 million euros in 2022. In addition, Cegeka’s workforce is growing, to 9,000 employees.
Growth to a global player
CTG’s divisions are well spread over the world. Offices are spread across North America, South America, Europe and India. Global operation should however not be a problem for Cegeka. The company itself already grew into a global player through several acquisitions.
Read also: Cegeka buys Solver Sweden: ‘Scandinavia is ahead in data and AI’
“We see this acquisition as another step in the continued growth of our company. We have found a partner with CTG that offers complementarity with Cegeka’s customer and service portfolio. In addition, CTG provides an addition to the capabilities and knowledge present within Cegeka,” said Cegeka CEO Stijn Bijnens.
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