CM-CIC, IDI exit IT services company Alti to Tata Consultancy


server_lrgFrench private equity investors CM-CIC LBO and IDI have agreed to sell IT services company Alti to India’s Tata Consultancy Services in a €75m deal.

The company said the firms had helped it grow turnover from €64m in 2006 to €126m last year through sustained internal growth and acquisitions.

Alti, which employs about 1,200 people across France, Belgium and Switzerland, provides IT services to French businesses in sectors including banking, manufacturing and finance.

CM-CIC chief executive Bertrand Fesneau said, “We are proud of this operation with a strategic buyer such as TCS which embodies five years of successful partnership with the management of Alti, and illustrates the ability of the IDI CM-CIC LBO structuring cross-border transactions with foreign players in growth.”

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