Status:       Upcoming/New Filing

Acquirer:              Cegeka Groep NV (Belgium)     

Acquired:             Computer Task Group (U.S.)

Value:                   Over $170 million

Industry Tags:    Technology Services

On August 9, 2023, “Cegeka Groep NV (‘Cegeka’), a leading European IT solutions company, and Computer Task Group, Incorporated (Nasdaq: CTG) (‘CTG’), a leader in North America and Western Europe helping companies employ digital IT solutions and services to drive their productivity and profitability, [] announced that they [] entered into a definitive agreement under which Cegeka agreed to acquire CTG for $10.50 per share of common stock in an all-cash transaction, representing an implied equity value of approximately $170 million.”  (Press Release, Computer Task Group Inc. S14D-9, Ex-99.1, Aug. 9, 2023, SEC Filing.)   On August 23, 2023, “Chicago Merger Sub, Inc., a New York corporation . . . and a wholly owned subsidiary of Cegeka Groep NV, a Belgian limited liability company” issued a tender offer “to purchase all outstanding shares of common stock . . . of Computer Task Group, Incorporated, a New York corporation . . . at a price of $10.50 per Share . . .”   (Offer to Purchase, Computer Task Group Inc. SC TO-T, Ex-(A)(1)(A), Aug. 23, 2023, SEC Filing.)  “The Offer is being made pursuant to the Agreement and Plan of Merger, dated as of August 9, 2023,” by and among Cegeka Groep, Chicago Merger Sub, and Computer Task Force.  (Id.)  “The Offer is conditioned upon, among other things . . . CFIUS Approval . . .”  (Id.)

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