CTG: Cegeka completes CTG acquisition

Cegeka Groep nv, an IT solutions provider based in Hasselt, Belgium, completed its tender offer to purchase shares of Computer Task Group Inc., a Buffalo, New York-based IT staffing and solutions provider.Cegeka was set to pay $10.50 per share for the publicly traded CTG."This transaction is a logical next step in Cegeka's continuous growth journey," Cegeka CEO Stijn Bijnens said in a press statement. "By joining forces with CTG, we are creating a powerful IT player with a portfolio of integrated end-to-end solutions supported by a strong global delivery center network and innovative technologies, transforming from a European to a global organization. Together, we will have operations in 19 countries and employ over 9,000 IT professionals."As part of the acquisition, Filip Gydé, CTG's CEO, will not be part of the new organizational structure."We appreciate his positive cooperation during this acquisition process," Bijnens said. "We thank him for his years of dedication to the company and all the successes to which he has contributed."Founded in 1966 by two IT professionals, CTG provides IT solutions and staffing in North America and Western Europe. The company had a revenue of $325 million in 2022, which includes $91.1 million in IT staffing revenue.