Comunicado de prensa: Cegeka va a adquirir a CTG pagando $10.50 por acción, agregándole valor a los clientes a lo largo y ancho de Norteamérica y Europa

View the press release in English or French. 

• Cegeka encuentra en CTG a un socio que complementa su portafolio de clientes y servicios y fortalece las capacidades y el conocimiento de Cegeka. Juntos pueden ofrecerles un mayor valor a sus clientes a lo largo y ancho de Norteamérica y Europa.
• Cegeka adquirirá CTG pagando $10.50 por acción en efectivo en una transacción valorada en $170 millones aproximadamente. Se espera que la adquisición le genere a Cegeka una facturación anual de €1.4 billones, empleando más de 9,000 personas en 18 países.
  

HASSELT, BELGIUM/LIMBURG y BUFFALO, N.Y.—Agosto 9 de 2023: Cegeka Groep nv (“Cegeka”), una compañía europea líder en soluciones de TI, y Computer Task Group Inc (Nasdaq: CTG) (“CTG”), una compañía líder en Norteamérica y el occidente de Europa en ayudar a las compañías a impulsar su productividad y rentabilidad en soluciones y servicios de TI digital, han anunciado hoy que han llegado a un acuerdo definitivo en el cual Cegeka acepta adquirir a CTG por $10.50 por acción ordinaria en efectivo, representando un valor patrimonial implícito de aproximadamente $170 millones.

CTG es un proveedor líder en soluciones de transformación digital que cuenta con una base sólida de clientes a lo largo de mercados verticales de alto crecimiento, enfocados principalmente en los sectores de salud, finanzas, energía, manufacturas y gobierno. La compañía tuvo ingresos de $325 millones en 2022 y de $306 millones en los últimos 12 meses a 30 de junio de 2023. CTG opera en tres segmentos: Norteamérica - soluciones y servicios de TI, Europa- Soluciones y servicios de TI y servicios de tecnología no estratégicos. Desde 2018, CTG se ha transformado en un proveedor de soluciones recurrentes y de mayor margen, lo que ha ampliado significativamente su margen bruto de 19.1% en 2018, a 28.1% a 30 de junio de 2023.

Esta operación encaja con la visión estratégica de crecimiento y ambición a largo plazo de Cegeka. Stijn Bijnens, CEO de Cegeka, dijo: “Esta fusión es un paso lógico en el camino de crecimiento de Cegeka. En CTG encontramos un socio que complementa nuestro portafolio de clientes y servicios y fortalece nuestras capacidades y nuestro conocimiento”.

André Knaepen, presidente de la Junta Directiva de Cegeka dijo: “Juntos, podremos darles un valor agregado a los clientes en Norteamérica y Europa. Mientras procedemos con el proceso de adquisición, estamos ilusionados de recibir a los empleados de CTG de India, Colombia, Europa y Norteamérica”.

“Estamos muy contentos con esta transacción con Cegeka, que es un testamento a los esfuerzos significativos que hemos hecho para llevar nuestra estrategia de transformación para convertir a CTG en un proveedor de transformación de TI digital ‘pure-play’”, dijo Filip Gydé, presidente y CEO de CTG. “Nuestra misión en CTG es entregar a nuestros clientes resultados mejores y más a rápidos, con soluciones de transformación digital de alto valor. En Cegeka, estamos complacidos de haber encontrado un socio que nos permita acelerar este importante trabajo. Estamos seguros de que la unión con Cegeka será beneficiosa para nuestros empleados, continuará brindando servicios de alto valor y soluciones que nuestros clientes esperan y dará un valor inmediato a nuestros accionistas”.

Aspectos financieros destacados

Se espera que esta adquisición le aporte a Cegeka una facturación anual en el 2024 de €1.4 billones, empleando a más de 9,000 personas en 18 países. Esta operación moverá a Cegeka de una posición líder en soluciones de TI en Europa, a una empresa integradora Global de TI.

Detalles de la operación

Bajos los términos del acuerdo de fusión, una subsidiaria de propiedad de Cegeka iniciará una oferta pública de adquisición de todas las acciones en circulación de CTG por un valor de $10.50 por acción ordinaria en efectivo, que representa un valor patrimonial implícito de aproximadamente $170 millones. El precio de oferta representa una prima del 44.8% sobre la cotización media ponderada por volumen de los últimos 90 días a agosto 7 de 2023. Las juntas directivas de Cegeka y CTG, aprobaron el acuerdo de fusión unánimemente.

Dentro de la ejecución del acuerdo de esta fusión, algunos directores y directores ejecutivos de CTG, con aproximadamente 8.8% de las acciones en circulación, aceptaron ceder todas sus acciones en esta oferta de adquisición.

 El cierre de la transacción estará sujeto a las condiciones acostumbradas, incluyendo la expiración o la terminación de ciertos períodos regulatorios y la cesión de acciones representando por lo menos dos terceras partes de las acciones en circulación de CTG en la oferta de adquisición, como lo establecen los requerimientos de aprobación de fusiones bajo las leyes aplicables en Nueva York. Una vez se complete exitosamente la oferta de adquisición, Cegeka comprará las acciones ordinarias no adquiridas por medio de una fusión de segundo paso realizada con la misma consideración por acción ordinaria. Se espera que la transacción se cierre más adelante en 2023. Una vez se complete exitosamente la oferta de adquisición, la subsidiaria de Cegeka para la adquisición será fusionada con CTG y las acciones ordinarias de CTG que queden serán canceladas y convertidas en el derecho a recibir los mismos $10.50 por acción en efectivo.

 Después del cierre, CTG se convertirá en una compañía privada, y las acciones ordinarias de CTG no estarán listadas en ningún mercado público.

CTG – Segundo trimestre de 2023 – Resultados Financieros

En el transcurso del día de hoy, en un comunicado aparte, CTG anunciará los resultados del segundo trimestre de 2023. El comunicado de prensa estará disponible en la página web de CTG. Debido a la adquisición pendiente de Cegeka, CTG no hará su rendición de cuentas que estaba prevista para hoy, agosto 9 de 2023, a las 11:00 a.m. ET.

Asesores

Stifel es el asesor financiero, y DLA Piper LLP es el asesor legal de Cegeka. KPMG apoyó a Cegeka en la debida diligencia financiera, tributaria y de recursos humanos.

Raymond James & Associates, Inc. actúa como el asesor financiero de CTG. Baker McKenzie LLP actúa como asesor legal de la compañía.

About Cegeka

Cegeka is an ambitious and leading IT solutions provider. In line with our motto, 'In close cooperation,' we strive to provide the best possible customer service and support our more than 2,500 customers in their digitization journey. Cegeka offers integrated end-to-end solutions in the fields of Data, Applications, and Infrastructure which are strongly interconnected. 
Cegeka has over 6,000 employees with locations in Belgium, Luxembourg, the Netherlands, Germany, Austria, Romania, Moldova, Italy, the Czech Republic, Slovakia, Sweden, the United States, and Greece, and has a consolidated turnover of €871 million (in 2022). Cegeka is a European family-owned company. It was founded in 1992 by André Knaepen, who is currently the chairman of the board of directors. CEO Stijn Bijnens manages the Company from its head office in Hasselt, Belgium. 

About CTG

CTG is a leading provider of digital transformation solutions and services that accelerate clients’ project momentum and achievement of their desired IT and business outcomes. We have earned a reputation as a faster, more reliable, results-driven partner focused on integrating digital technology into all areas of its clients to improve their operations and increase their value proposition. CTG’s engagement in the digital transformation process drives improved data-driven decision-making, meaningful business performance improvements, new and enhanced customer experiences, and continuous innovation. CTG operates in North America, South America, Western Europe, and India. CTG regularly posts news and other important information at www.ctg.com.

Important Information for Investors and Security Holders

The tender offer for all the outstanding common stock of CTG referred to in this press release has not yet commenced. The description contained in this press release is neither an offer to purchase nor a solicitation of an offer to sell any securities, nor is it a substitute for the tender offer materials that Cegeka will file with the U.S. Securities and Exchange Commission (the “SEC”). The solicitation and offer to buy the common stock of CTG will only be made pursuant to an offer to purchase and related tender offer materials. At the time the tender offer is commenced, Cegeka will file a tender offer statement on Schedule TO, and thereafter CTG will file a solicitation/recommendation statement on Schedule 14D-9 with the SEC with respect to the tender offer. THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL, AND CERTAIN OTHER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT ON SCHEDULE 14D-9 WILL CONTAIN IMPORTANT INFORMATION. ANY HOLDERS OF SHARES ARE URGED TO READ THESE DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES. The offer to purchase, the related letter of transmittal, and the solicitation/recommendation statement will be available for free at the SEC’s website at www.sec.gov. Free copies of the offer to purchase, the related letter of transmittal, and certain other offering documents will be made available by Cegeka and, when available, may be obtained by directing a request to the information agent for the tender offer that will be named in the Schedule TO and related offer documents. Copies of the documents filed with the SEC by CTG will be available free of charge on CTG’s internet website at www.ctg.com or by contacting CTG’s Investor Relations Department at +1 716 887 7368.

In addition to the offer to purchase, the related letter of transmittal and certain other tender offer documents filed by Cegeka, as well as the solicitation/recommendation statement filed by CTG will be filed with the SEC. CTG will also file periodic and current reports with the SEC. You may read and copy any reports or other information filed by Cegeka or CTG at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. CTG’s filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at http://www.sec.gov.

 Forward Looking Statements

This press release contains statements that constitute “forward looking statements,” including statements that express the opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or future results, including statements regarding the proposed acquisition of CTG by Cegeka (the “Proposed Acquisition”), in contrast with statements that reflect historical facts. In some cases, you can identify such forward-looking statements by terminology such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project,” or “expect,” “may,” “will,” “would,” “could,” “potential,” “intend,” or “should,” the negative of these terms or similar expressions. Forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to Cegeka and CTG. However, these forward-looking statements are not a guarantee of performance, and you should not place undue reliance on such statements.

Forward-looking statements are subject to many risks, uncertainties and other variable circumstances, including, but not limited to, the ability of the parties to satisfy the closing conditions for the Proposed Acquisition on a timely basis or at all, including the possibility that a governmental agency may prohibit, delay, or refuse to grant approval for the consummation of the Proposed Acquisition; statements about the expected timetable for completing the Proposed Acquisition; uncertainties as to how many of CTG’s shareholders will tender their shares in the offer; the possibility that competing offers will be made; the occurrence of events that may give rise to a right of one or both of Cegeka and CTG to terminate the merger agreement; negative effects of the announcement of the Proposed Acquisition on the market price of CTG’s common stock and/or on it business, financial condition, results of operations, and financial performance (including the ability of CTG to maintain relationships with its customers, suppliers, and others with whom it does business); the effects of the Proposed Acquisition (or the announcement thereof) on CTG’s ability to retain and hire qualified professional staff and talent, including technical, sales and management personnel; competition for clients; the increased bargaining power of CTG’s large clients; the occurrence of cyber incidents and CTG’s ability to protect confidential client data; the partial or complete loss of the revenue CTG generates from its largest client, International Business Machines Corporation (IBM); the uncertainty of CTG’s clients’ implementations of cost reduction projects; the mix of work at CTG between IT Solutions and Services and Non-Strategic Technology Services, and the risk of disengaging from Non-Strategic Technology Services; currency exchange risks; risks associated with CTG’s domestic and foreign operations, including uncertainty and business interruptions resulting from political changes and actions in the U.S. and abroad, such as the conflict between Russian and Ukraine and recent developments in China, and volatility in the global credit and financial markets and economy; renegotiations, nullification, or breaches of contracts with clients, vendors, subcontractors or other parties; the impact of current and future laws and government regulations, as well as repeal or modification of such, affecting the IT solutions and services industry, taxes and CTG’s operations in particular; industry, economic, and political conditions, including fluctuations in demand for IT services; and consolidation among CTG’s competitors or clients. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of the control of Cegeka and CTG and could cause actual results to differ materially. The forward-looking statements included in this press release are made only as of the date hereof. Cegeka and CTG do not undertake, and specifically decline, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law.

A further description of risks and uncertainties relating to CTG can be found in CTG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as filed with the SEC, and in other documents filed from time to time with the SEC by CTG and available at www.sec.gov and www.ctg.com.

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Investor Relations:

John M. Laubacker, EVP, Chief Financial Officer, and Treasurer
+1 716 887 7368

Media:

Amanda LeBlanc, Chief Marketing Officer and Vice President, Global Marketing
[email protected]
+1 225 772 8865