Igate Sold For $4 Bil Amid Service Commoditization
The fortunes of players in the information technology and consulting services industry swung in two directions, with Capgemini agreeing to buy Igate (IGTE) and Infosys (INFY) saying fourth-quarter revenue suffered from the commoditization of traditional services. On Monday, French IT firm Capgemini agreed to pay $4 billion, or $48 a share, for Igate, which reported revenue of $1.3 billion last year. The deal is expected to close in the second half