Zurich: French IT services consultancy Atos has acquired Cambridge Technology Partners (Cambridge), a leading IT consulting firm in the Swiss market, for an undisclosed sum.
Cambridge has 300 employees and Atos says the acquisition will accelerate its growth and strengthen its position as a leading provider of IT consulting and services bringing digital marketing expertise in the Consumer Goods, Luxury, Pharma and Financial Market sectors.
Cambridge has been serving the Swiss IT market since the early 1990s. In 2008, it became an independent company following the spin-off from Novell, Cambridge reported revenues of CHF 40 million in 2013 (EUR 35 million). Atos points out that in a very competitive market, Cambridge has developed a strong reputation in the areas of digital marketing, Identity & Access Management (IAM) and Digital Work Place, in addition to traditional business and technology consulting.
Atos says the key advantages of the acquisition are:
- Atos can offer a strengthened portfolio to its customers in particular in the area of digital marketing.
- Cambridge will add valuable expertise to the existing Atos global technology consulting business and give Atos an important presence in Switzerland with two companies together employing 800 employees.
- A stronger position to offer multi-national clients the scope to work on global projects thanks to Atos' international footprint.
Walter Kägi, CEO at Atos in Switzerland said, "The Swiss IT services market remains very competitive and we must be ready for the upcoming challenges and industry consolidation that is happening around us. This acquisition will enable both Atos and Cambridge to continue delivering on their impressive track records.
"By combining two complementary market approach philosophies, clients and service offerings, the new enlarged company, with a total of 800 employees, will take a significant step forward towards realizing our ambition of becoming a Tier-1 IT service provider in Switzerland. Existing Atos local clients will also strongly benefit from the availability of an expanded portfolio of expertise which will now be available to them to further reinforce the commitment of Atos to their business requirements and outcomes."
Vijay Srinivasan, CEO at Cambridge Technology Partners said, "The IT services landscape is currently undergoing a consolidation phase and in around a year or two, we will be left with a few very large global players, some of the India-based outsourcers and a few larger local providers. In this climate, many of our clients are asking us not only to maintain a strong local presence, but to be able to engage in large and global initiatives as well.
"The Atos strategy is to build a strong technology consulting group and Cambridge will play a key role in this new organization, leveraging its consultants and expertise to provide our prestigious clients with a larger portfolio of solutions."
Cambridge serves a diversified portfolio of upper mid-market and large corporate companies from its offices in Nyon, Zürich and Basel. It also provides global delivery services from its near-shore office in Budapest