Competition Commission approves Capgemini's proposal to acquire Cloud4C

New Delhi, Oct 14 (PTI) The Competition Commission of India (CCI) on Tuesday approved French IT services major Capgemini's proposal to acquire full ownership of Singapore-based Cloud4C.

The development came after Capgemini in August this year announced that it has signed an agreement to acquire Cloud4C, a leader in hybrid cloud platform services.

"The proposed combination relates to the acquisition of 100 per cent of the shares of Cloud4C Services Pte Ltd (Target 1) and Cloud4C Services Pvt Ltd (Target 2) by Capgemini SE," CCI said in a release.

Capgemini SE, is the ultimate parent entity of the Capgemini group.

"Commission approves proposed acquisition of Cloud4C Services Pte Ltd and Cloud4C Services Pvt Ltd by Capgemini SE," the regulator said in a post on X.

Headquartered in Paris, Capgemini is a leading multinational in consulting, digital transformation, technology, and engineering services. The company has a significant presence in India, which serves as one of its largest delivery bases globally.

Cloud4C is engaged in the provision of information technology/information technology enabled services in India.

In August, Capgemini said it has signed an agreement to acquire hybrid cloud platform services firm Cloud4C.

This deal came on the heels of Capgemini's announcement in July this year to acquire business transformation services firm WNS for USD 3.3 billion, excluding debt to expand the range of AI tools it offers for companies.

The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace. PTI HG HG DR DR