– Devoteam is a Paris headquartered IT consulting group with has 4,250 employees and 2008 turnover in excess of €450m

– Operates in 20 countries across Europe, North Africa and the Middle East

– 19 years experience in IT consulting and service

– Serves customers in finance, industrials, the public sector, services, telecoms and media

– Danet had achieved continued success in the domestic telecommunications space , and needed a scale partner to pursue the high value contracts it was in line to bid for and win

– Devoteam was at the same time looking for a partner with a similar vision and team culture in order to complete the build out of its European technology services footprint

– Danet’s strong German sales and marketing channels will be a good addition to Devoteam’s worldwide services network, enabling both companies to achieve broader and deeper penetration of the European telecommunications and public sector markets in particular

– Arma Partners ran a full process, contacting European, Indian and US strategic partners as well as private equity firms

– Arma Partners worked intimately with management in order to fully understand the business and carefully accentuate the strengths of the valuation story against the backdrop of an increasingly challenging economic outlook

– Arma Partners ran a strategic valuation defence that resulted in an optimal exit valuation placing Danet at a premium of 70% to its trading comparable market value

– As a result of the transaction, Danet found a strong platform to leverage its expertise across Europe in addition to having the scale to tackle the volume of opportunities within its reach