Companies news
France’s Altran Tech Buys Aricent For $2 Billion
Altran Technologies plans a €750 million rights issue to help finance the acquisition of Aricent.
French engineering, research and development (ER&D) company Altran Technologies SA has acquired US design and engineering services firm Aricent Inc., at an enterprise value of $2 billion in an all-cash transaction, Altran said in a statement.
Altran acquired California-based Aricent (formerly Flextronics Software Systems) from a group of investors led by private equity firm KKR and Co. LP, which had a 79% stake in the company and was advised by JPMogan Chase and Co. Aricent claims to employ 12,000 engineers, designers and consultants at 19 locations, and has offices in Bengaluru, Gurugram, Pune, Hyderabad, Noida and Chennai.
Altran plans a €750 million rights issue to help finance the purchase, Reuters reported.
“The combination contains no overlap...and they’re bringing us com (communication), technology systems, semiconductors, software and design,” Altran Technologies chief executive Dominique Cerutti said.
