Capgemini announced that it is acquiring Kanbay International, a U.S.-listed offshore player specializing in financial services. Kanbay brings around 6,900 employees - of which 20 percent are located onshore - and expected revenues for 2006 of $400 million. Capgemini's Indian presence is now 12,000 out of a total headcount of 72,000, making 16 percent of staff offshore.

Meanwhile Capgemini wants to have around 35,000 (excluding BPO personnel) staff based offshore by 2010, mostly working out of India. Capgemini also said that its Q3 2006 revenues were up by 12.4 percent in Q3 to $1,881 million. Capgemini is revising its guidance slightly upwards for an operating margin in 2008, possibly up to 8.5 percent (and 10 percent during peak activity times).

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