Capgemini on verge of acquiring TCube Solutions

Leading consulting, technology and outsourcing services provider Capgemini is believed to be in the final lap of acquiring TCube Solutions, a Bhubaneswar-based IT firm. The valuation of the deal is not known.

TCube Solutions has facilities at United States and Pune in addition to Bhubaneswar.

“The deal is through and we are expecting an announcement soon. With the acquisition of TCube solutions, Capgemini will now have its presence in Bhubaneswar. The acquired company has carved a niche for itself in the insurance sector”, said an industry source privy to the development.

The official added the announcement is likely on February 16.

“Capgemini does not comment on market speculation”, said a spokesperson with Capgemini.

TCube Solutions offers highly configurable ceding company system providing comprehensive treaty and facultative reinsurance capabilities, automated workflow where policies and claims attach systematically based upon configured treaty and facultative options built on Accenture Duck Creek Platform. TCube’s trade mark offering Pathway™ -a set of tools, accelerators, and best practices enable its clients to accelerate the migration from their CSC Point legacy system to one of the modern architected solutions including Duck Creek and Guidewire. Using Pathway, TCube help its clients to develop a roadmap for migration that maximizes the ROI (return on investment) at each step of the migration.

After takeover by Capgemini, the headcount at the Bhubaneswar centre is expected to go up from around 150 to 500. The increase in headcount will help the government in achieving the objectives outlined in the state’s ICT (Information & Communications Technology) Policy, 2014, said a government official.

The state’s ICT policy targets to achieve a turnover of $4 billion and achieve direct employment of 60000 by promoting 800 IT/ITes and ESDM (Electronic System Design and Manufacturing) units. It also aims to attract 10 leading IT/ITes and five leading ESDM companies to the state.