Urban art fair for millennials, Gen Z to kick off next week

empired, Capgemini, which it acquired in 2014

Capgemini is set to acquire Perth-based systems integrator and Intergen parent Empired to further its reach in Australia and New Zealand, a move that could see the French multinational boost its local annual revenue rate to more than half a billion dollars.

On 19 July, Empired announced it had entered into an agreement to be acquired by Capgemini at a price of A$1.35 per share, coming to a total of A$223 million. 

While based in Australia, Empired has a substantial presence in New Zealand thanks to local player Intergen, which it acquired in 2014

While the finer details of the acquisition are yet to be disclosed, the French systems integrator would add a pretty penny to both its top line and bottom line financials if successful in its bid. 

Capgemini Australia, which is understood to also oversee the company’s New Zealand activities, pulled in revenues of $417.7 million in its last full financial year for the 12 months to 31 December 2020.

The publicly listed Empired, meanwhile, reported A$165.5 million in revenue during its last financial year, the 12 months to 30 June 2020, with A$98 million of this from Australia and A$67.5 million from its New Zealand business.

Whether all of Empired’s operating markets would be included in Capgemini Australia’s future results is unclear at this stage, but simply adding the systems integrator’s Australian operations revenue into the mix could see the combined entity’s annual revenue rate come to A$515 million — a 23.5 per cent boost to Capgemini Australia’s most recent annual tally. 

If all of Empired’s revenue is thrown into the mix, Capgemini would see its combined revenue increase to A$582.5 million — rising by nearly 40 per cent on top of its last full-year tally. 

At the same time, Capgemini Australia brought in A$9.7 million in net profit after tax during its 2020 financial year. Empired, meanwhile, made A$6.1 million in its FY20 during the 12 months to 30 June 2020.  

This means the acquisition could see Capgemini Australia’s profit rise by 63 per cent to a combined value of A$15.8 million.

It should be noted that Empired’s post-tax profit combines both of its markets across the Tasman and does not provide a breakdown between the markets in which it operates.

According to Capgemini’s Kaylene O’Brien, managing director for Capgemini A/NZ, the acquisition, if successful, would see the French company expand its presence in Australia and New Zealand further, through the brands Empired and its Kiwi subsidiary Intergen, respectively. 

However, there is also a chance for it to bolster its standings in the US as well. 

The Perth-based systems integrator’s FY20 results indicate that it has approximately 1,000 employees across Australia, New Zealand and the US, with the latter two markets operating as one segment. 

Regardless of the potential extent of the boost in profit and revenue from an acquisition of Empired, the reality is an increase in finances won’t be seen until much later in the year if the acquisition is successful, as the scheme meeting for the acquisition is slated for early November and implementation is predicted to take place in mid November.

News Related

OTHER NEWS

New COVID-19 cases fall under 2,000

Visitors wearing face masks to help curb the spread of the coronavirus arrive at the International Quarantine Expo in Goyang, Sept. 14. AP-Yonhap South Korea’s daily coronavirus cases fell under ... Read more »

N. Korea confirms missile launches from train

his photo, released by North Korea’s official Korean Central News Agency (KCNA) on Thursday, shows a railway-borne missile regiment holding a firing drill a day earlier. (Yonhap)North Korea said Thursday ... Read more »

US opposed counter-coup military moves against Chun's rise to power: declassified documents

This scanned image, provided by Seoul’s foreign ministry on Thursday, shows a copy of a diplomatic cable the US Embassy in Seoul sent to the State Department on Feb. 1, ... Read more »

Libraries as repositories of human culture and history, captured in photos

“The Duchess Anna Amalia Library, German” (2018) by Lim Young-kyun / Courtesy of 2Gil29 Gallery By Park Han-sol Photographer Lim Young-kyun poses in front of his work, “Nam June Paik ... Read more »

US condemns N. Korean missile launch, stands ready to engage in dialogue: Price

US State Department spokesman Ned Price is seen answering questions in a press briefing at the State Department in Washington on Wednesday in this image captured from the department’s website. ... Read more »

[INTERVIEW] 'The Bad Man' zooms in on child soldier in Myanmar

A scene from the film, “The Bad Man” / Courtesy of Lee Yong Chao By Kwak Yeon-soo Myanmar has one of the world’s longest-running civil wars and is estimated to ... Read more »

Conglomerates suspending regular recruitment system

Jobseekers for Samsung affiliates take an online entrance exam at Samsung Electronics’ business complex in Hwaseong, Gyeonggi Province, May 31, 2020. Courtesy of Samsung Electronics By Kim Jae-heun Most major ... Read more »

[INTERVIEW] Wisdom we learned from our seven years in US

gettyimagesbank In a memoir, author says her family’s American dream shattered but their years of struggles were worthwhile By Kang Hyun-kyung A 34-year-old author, who identifies herself only with her ... Read more »

NK leader's sister warns of 'complete destruction' of inter-Korean ties

North Korean leader`s sister Kim Yo-jong (Yonhap)The sister of North Korean leader Kim Jong-un on Wednesday accused South Korean President Moon Jae-in of being “foolish” and warned of “complete destruction” ... Read more »

US condemns N. Korean missile launch, urges Pyongyang to return to dialogue

Department of State (Yonhap)The US State Department on Wednesday condemned North Korea’s ballistic missile launches, calling the act a violation of UN Security Council resolutions that poses a threat to ... Read more »

Top diplomats of S. Korea, Britain discuss climate change, Afghanistan

South Korean Foreign Minister Chung Eui-yong (Yonhap)Foreign Minister Chung Eui-yong spoke by phone with his British counterpart, Dominic Raab, on Wednesday and discussed joint efforts on climate change and other ... Read more »

Citibank Korea set to pay huge compensation for retirees

Citibank Korea headquarters in central Seoul. Yonhap By Anna J. Park As Citibank Korea is planning to implement a voluntary retirement program, with employees applying for the program being eligible ... Read more »

Korea ranks 4th in 2021 International Earth Science Olympiad

Team Korea for the International Earth Science Olympiad 2021 / Courtesy of Korean Foundation for the Advancement of Science & Creativity By Kim Bo-eun Korea ranked fourth out of 32 ... Read more »

Korean abstract painter Park Seo-bo hopes his art will absorb people's stress

By Lee Haye-ah SEOUL, Sept. 15 (Yonhap) — If art is a form of expression, then the paintings of Park Seo-bo, known as the father of Korean contemporary art, may ... Read more »

S. Korea, China kick off year of cultural exchange

SEOUL, Sept. 15 (Yonhap) — South Korea and China opened the 2021-22 year of cultural exchange with a ceremony in Seoul Wednesday, hoping for the event to be a chance ... Read more »

Vice FM meets Oman's top diplomat, discusses bilateral cooperation

Second Vice Foreign Minister Choi Jong-moon (left) speaks with Omani Foreign Minister Badr Albusaidi during his recent visit to the country. (Ministry of Foreign Affairs)Second Vice Foreign Minister Choi Jong-moon ... Read more »

Hyundai to begin car production under President's signature job project

President Moon Jae-in preorders a Casper mini SUV produced by Gwangju Global Motors, a joint venture between Hyundai Motor and Gwangju Metropolitan Government, from his office, Tuesday. Courtesy of Cheong ... Read more »

2021 F/W Seoul Fashion Week goes online from March 22

Poster for Seoul Fashion Week Fall/Winter 2021 / Courtesy of Seoul Fashion Week By Park Ji-won Seoul Fashion Week Fall/Winter 2021 will be held online from March 22 to 27. ... Read more »

6 holiday places you can stay with man's best friend

Booking.com introduces six pet-friendly stays in Korea where travelers can enjoy a vacation with their beloved animals more comfortably. Traveling with companion animals has become more popular as pet ownership ... Read more »

[INTERVIEW] UK economist calls for redirecting capitalism to make it more inclusive

Guy Standing, author of “The Precariat: The New Dangerous Class” / Courtesy of Guy Standing Guy Standing, author of ‘The Precariat,’ touts benefits of basic income, a populist idea that ... Read more »

Afghans enjoying activities after self-quarantine

Afghan evacuees enjoy outdoor activities on a playing field at the Leadership Campus of the National Human Resources Development Institute in Jincheon, North Chungcheong Province, Monday, after they underwent two ... Read more »

Block deal leads KakaoBank's stock price to drop

An employee walks into the headquarters of KakaoBank in Pangyo, Gyeonggi Province on August 5. Yonhap By Anna J. Park KakaoBank’s stock price tumbled almost eight percent on Thursday, finishing ... Read more »

Jeon Do-yeon says 'Lost' script made her cry

Actors Ryu Jun-yeol, left, and Jeon Do-yeon pose during an online press conference for JTBC’s new series, “Lost,” Thursday. Courtesy of JTBC By Kwak Yeon-soo Actress Jeon Do-yeon is returning ... Read more »

Additional airlines to resume flights to Saipan despite 4th wave of infections

An Asiana Airlines plane is seen through a window at Terminal 1 of Incheon International Airport on July 14. Yonhap Travel bubble agreement with Saipan to begin Saturday By Jun ... Read more »

Donations to Asiana Airlines' 'Change for good' campaign exceed W15 bil.

UNICEF Korea Committee Secretary General Lee Ki-cheol, second from left, and Asiana Airlines CEO Jung Sung-kwon, third from left, pose for a picture during the “Change for Good” ceremony, held ... Read more »

Financial stocks to bounce back on KakaoBank's inclusion in bank index

KakaoBank’s head office in Pangyo, Gyeonggi Province / Courtesy of KakaoBank By Lee Min-hyung Bank stocks will regain momentum for an additional rally by the end of 2021 after KakaoBank’s ... Read more »

Volvo sells over 2 million SPA-based vehicles

Volvo Cars built with SPA platforms / Courtesy of Volvo Car Korea By Kim Jae-heun Over 2 million Volvo vehicles produced with its Scalable Product Architecture (SPA) platform have been ... Read more »

'News from Nowhere' peeks into DMZ's most secluded village to ponder human conflict, isolation

An installation view of the exhibition “MMCA Hyundai Motor Series 2021: Moon Kyungwon & Jeon Joonho ― News from Nowhere, Freedom Village” at the MMCA Seoul / Courtesy of the ... Read more »

Gay culture meets sculpture to expand presence in Korea's art scene

“Bulky” (2021) by Choi Ha-neyl / Courtesy of Arario Museum By Park Han-sol Artist Choi Ha-neyl / Courtesy of Arario Museum Problems with body image can often become a source ... Read more »

KOCCA's digital showroom 'The Selects' ends F/W 2021 collection on high note

The picture shows advertisements of KOCCA’s digital showroom, “The Selects,” in Time Square. Courtesy of KOCCA By Lee Gyu-leeThe Selects, a showroom operated by the Ministry of Culture, Sports and ... Read more »

K-pop couple HyunA and DAWN flouts taboos, releases first duet mini-album

By Dong Sun-hwa K-pop couple DAWN, left, and HyunA pose during an online press conference and album showcase, Thursday. Courtesy of P NATION K-pop couple HyunA and DAWN, who went ... Read more »

Korean Air to resume flights to Hawaii in Nov.

In this June 17 photo, a Korean Air plane takes off from Incheon International Airport. Yonhap Korean Air Lines, South Korea’s biggest carrier by sales, said Thursday it plans to ... Read more »

Hyundai Motor, LG Energy break ground for battery factory in Indonesia

Hyundai logo is seen during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, Sept. 8. Korean automaker Hyundai Motor Group and battery maker LG Energy Solution said Wednesday they ... Read more »

Dolce & Gabbana's 'light therapy' collection celebrates life

In this 2011 May file photo, fashion designers Stefano Gabbana, left, and Domenico Dolce arrive in downtown Milan, Italy. AP-Yonhap Dolce & Gabbana are coaxing men off their sofas and ... Read more »

LG Innotek develops eco-friendly magnet

An LG Innotek employee holds a magnet in this photo provided by the company, Monday. Courtesy of LG Innotek By Baek Byung-yeul LG Innotek developed high-efficiency, eco-friendly magnets for use ... Read more »

CCF 2021: Cultural experts underline significance of diversity, egalitarianism

France’s Secretary of State for Digital, Cedric O, speaks during the 2021 Culture Communication Forum at the Grand Hyatt Seoul, Tuesday. Courtesy of CICI By Dong Sun-hwaDigital platforms like Google ... Read more »

Author of 'Dooley' animation publishes new black humor comic book

A new comic book with the roughly translated title of “Game of Death” in English, by Kim Soo-jung, author of “Dooly, the Little Dinosaur.” Courtesy of Doolynara By Park Ji-won ... Read more »

NCSOFT vows to offer more user-friendly service for 'Blade & Soul 2'

The poster for NCSOFT’s new game, “Blade & Soul 2” / Courtesy of NCSOFT By Baek Byung-yeul Korean game company NCSOFT has vowed to offer more user-friendly services for its ... Read more »

Naver, Kakao facing uncertainty amid forthcoming regulations

Kim Beom-su, the founder and chairman of Kakao, delivers a speech at the Startup Campus in Pangyo, Gyeonggi Province, May 26, 2016. Yonhap Big tech firms hit by increased short-selling ... Read more »