French IT consultant Capgemini has acquired its smaller European rival Advectas, gaining more extensive access to numerous businesses looking for data analytics services in Scandinavia.
Founded in Sweden in 2006, Advectas runs service delivery centers in Stockholm, Copenhagen, Gothenburg, and Malmö.
Following the purchase, all of Advectas’ more than 200 employees will join Capgemini, according to a statement from the Paris-based IT giant.
Many businesses in Europe are trying to monetize data in this age of artificial intelligence, and Capgemini wants to cash in on the trend earlier than its rivals.
“Over the past 13 years, Advectas, a well-known player in the Scandinavian market, has built up a strong competency in the analytics space through the outstanding quality of its people and high caliber of its client base,” says Zhiwei Jiang, CEO of Capgemini’s data analytics business.
Analysts say the acquisition helps Capgemini gain better access to potential clients in Sweden and Denmark, where businesses of all stripes are piling up digital solutions to weather the storm of economic stagnation sweeping across the region.
“We had reached a stage where our large clients wanted to expand and evolve our solutions for their global marketplaces,” stated Stefan Olsson, CEO of Advectas. By joining Capgemini, we will be able to offer them this scale along with many other integrated digital and cloud-based capabilities.”