Bain Capital may acquire French IT services firm Inetum Group at a $2.27 billion valuation, Reuters reported. The Inetum acquisition could be announced as soon as this week, the report indicated.
Inetum (formerly Gfi) is a global IT consulting firm with roughly 27,000 employees across 26 countries. The company's current owner is Qatar's Mannai Corp.
None of the alleged deal participants commented in the report.
Inetum has M&A experience. Most recently, the company in September 2021 acquired Ilex International, an IAM (Identity and Access Management) security software specialist.
Inetum Cloud and SaaS Consulting Expertise
Inetum has also been in hiring mode. The company in 2021 announced a goal to hire 1,400 employees in such areas as software development, cloud architecture, security, mobility and SaaS applications (SAP, Salesforce, Microsoft Dynamics 365 and more).
Key Inetum partners, according to 2021 and 2022 press statements, include:
- Microsoft Azure
- OVHcloud for European cloud services;
- Sage accounting software; and
- Snowflake for data and cloud services.
Inetum Ransomware Attack
The M&A rumors surface only a few weeks after Inetum suffered a ransomware cyberattack in December 2021. The impact was limited to "certain" operations" in France and did not spread to international or customer systems, the consulting firm indicated.
