France’s Altran Tech buys Aricent for $2 billion:

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.

Mint first reported about Altran’s interest in acquiring Aricent on 14 November. The report said KKR was in early stages of discussions to sell Aricent and Altran was one of the potential suitors.

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