Capgemini, a France-based provider of tech consulting and outsourcing, has agreed to acquire Kanbay International (Nasdaq: KBAY), a Rosemont, Ill.-based provider of IT services for the financial services market. The total deal is valued at $1.25 billion, with Kanbay shareholders to receive $29 per share in cash. Kanbay went public in 2004, but VC backers like Cross Atlantic Capital Partners remain shareholders. www.capgemini.com www.kanbay.com
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