Caritor acquires French consulting firm

BANGALORE: Caritor, a California-based global provider of IT services and solutions, has announced the acquisition of IDGO group a Paris-based provider of strategic consulting services to the telecommunications and financial services industries in Europe.

IDGO group, founded in 2001 by Pierre Lambert and Jacques Vilarrubla, is a privately held IT strategy and consulting company based in Paris.

IDGO group currently employs over 30 consultants, domain experts and project managers.

According to the press release, Caritor gains significant expertise in the French market through this acquisition, and can now, offer better end-to-end IT solutions to both new and existing customers in Europe.

"From the time the company was founded, I felt strongly that there is significant value in developing an integrated model that brings to customers a combination of local high-end consulting services with the technical strength, quality and cost benefits of offshore" said founder, chairman and CEO of Caritor Mani Subramanian. "As a result of the economic downturn in 2000-2001, we made a tactical decision to focus our model and services predominantly on offshore. Our intent is to return to the original strategy and rapidly build up this local, client-facing component of the company. Our acquisition of IDGO group follows our strategy and will enable rapid growth in both the local French consultancy as well as in our IT solutions and services business," he added.

Caritor has been successful in establishing a significant presence in the major markets it serves - predominantly the US, UK, France and India - and employs over 2600 professionals across the globe. The agreement was finalized on June 17, 2005.