Belgian IT group Cegeka welcomes a new member to its large family. Cegeka announces the acquisition of the American company CTG.

Cegeka is paying $10.5 per share to acquire CTG for a total purchase price of $170 million. This is a total takeover, in which Cegeka will acquire all outstanding shares in the subsidiary. The transaction is expected to close later this year. Cegeka is doing golden business with it on the other side of the Atlantic.

CTG, an abbreviation for Computer task group, is an IT service provider with solutions for digital transformation. It mainly focuses on a number of specific sectors: healthcare, finance, manufacturing and government. The American company was already active in Belux and France. Together, Cegeka and CTG will serve customers in Europe and North America.

Global Superpower

Thanks to this new acquisition, Cegeka is gradually evolving from a European to a global key player in the IT sector. The addition of CTG is expected to increase annual sales for the entire group to EUR 1.4 billion in 2024. In addition, Cegeka will employ more than 9,000 people spread over 18 different countries. In addition to the Benelux countries and the USA, the company, which has its headquarters in Hasselt, also has subsidiaries in Germany, Austria, Romania, Moldova, Italy, the Czech Republic, Slovakia, Sweden and Greece.

But the company’s hunger and ambitions are far from satisfied, assures CEO Stijn Bijnens. “We see this acquisition as a further step in the further growth of our company. With CTG we have found a partner who complements Cegeka’s customer and service portfolio.”