Capgemini, a consulting, technology, and outsourcing services provider, has acquired Beijing-based Praxis Technology, a provider of IT and consulting services to the Chinese utility market.
Praxis Technology provides business management consulting services, Enterprise Resource Planning (ERP) implementation and application and software development services for the Chinese energy industry.
This acquisition is expected to help Capgemini build its position in the Chinese market, through organic and external growth and reinforce its position in China’s fast growing utility sector.
The acquisition, whereby Capgemini will acquire a 100% stake in Praxis Technology, will be financed by the Capgemini Group’s net cash. The acquisition is expected to be closed shortly.
It follows the acquisition of Brazilian IT services company CPM Braxis announced in September 2010, to further build its position in emerging markets for its offerings.
Capgemini head of New Businesses Gilles Taldu said this acquisition will strengthen our capability in the utility sector to help address the needs of China’s largest utilities.
"We look forward to working with the Praxis Technology team to bring the latest SAP technologies to our utility clients in China," Taldu said.
Praxis Technology general manager Yanpeng Zheng said together, they look forward to providing further value to their clients through the combined global and local expertise offered by the team, providing the depth of knowledge necessary for our work with some of China’s largest companies.
Capgemini has its China headquarters in Shanghai and employs over 1,800 professionals in China and has offices operating in several major cities including Beijing, Guangzhou, Shenzhen and Hong Kong.
