Transiciel directors have accepted the terms of a share exchange offer by Cap Gemini, they said.

Transiciel founder, chief executive and key shareholder Georges Cohen has agreed to bring his shares to the offer, the two information-technology services companies said in separate statements.

The two companies have been in alliance talks for several months.

Two options were proposed to Transiciel shareholders: either one Cap Gemini share for three Transiciel shares, or five shares and 16 warrants for 16 Transiciel shares.

On this basis, the Transiciel share is valued at 12.96 euros, a 23.1-percent premium on its average price last month, Transiciel said.

Cap Gemini will merge Transiciel with its Sogeti unit, creating a group employing 13,000 staff with sales of more than 1.1 billion euros (1.28 billion dollars).

SPACE.WIRE