S&P: Cap Gemini unchanged

Standard & Poor's said its ratings and outlook on Cap Gemini SA (BBB-/stable) remain unchanged after the group agreed to buy Getronics PinkRoccade Business Application Services BV, a unit of Koninklijke KPN NV (BBB+/negative/A-2), for about €255 million.

The acquisition, which is mostly present in the application development and management business and had about €300 million of revenues in 2007, would strengthen Cap Gemini's already leading operations in The Netherlands and complement them with solid positions in the public sector, S&P noted.

The agency added that the transaction will be funded through Cap Gemini's on-balance-sheet cash and/or available credit lines.

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