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HASSELT, Belgium and LIMBURG, the Netherlands, Dec.13, 2023 - Cegeka Groep NV (Cegeka), a leading European IT solutions provider, announced today that its subsidiary, Chicago Merger Sub, Inc.(Merger Sub), has successfully completed its tender offer to purchase all outstanding shares of common stock of Computer Task Group, Incorporated (CTG) (NASDAQ: CTG), a renowned leader in North America and Western Europe’s digital IT solutions and services market.
The acquisition was finalized at a price of $10.50 per share, net to the seller in cash, without interest and less any applicable withholding taxes.This deal marks a significant milestone for Cegeka in expanding its presence in the North American and Western European markets.
Computer Task Group Incorporated specializes in Cloud Computing & Data Analytics, providing companies with innovative IT solutions to enhance productivity and drive profitability.The company’s stock price currently stands at $10.5, reflecting a year-to-date performance of 42.78%.This merger represents an exciting opportunity for both Cegeka and Computer Task Group to combine their strengths and expertise, enabling them to deliver enhanced digital solutions and services to their clients across diverse industries.
The move is expected to consolidate Cegeka’s position as a leading player in the IT services market, providing its customers with an expanded range of offerings and generating new growth opportunities.Additionally, the acquisition will allow Computer Task Group to leverage Cegeka’s extensive resources and technological advancements, further strengthening its market position.
Cegeka has a proven track record of successful acquisitions and integrations, demonstrating its commitment to growth through strategic partnerships.The completion of this tender offer demonstrates Cegeka’s confidence in the future potential of Computer Task Group and reinforces its commitment to driving digital transformation on a global scale.
With the acquisition now complete, Cegeka can begin the process of integrating Computer Task Group’s operations and resources into its existing portfolio.The combined entity is well-positioned to leverage its expanded capabilities to support its clients’ digital transformation journeys.
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