Energy Consultants Form Information Services Joint Venture
Hagler Bailly Inc. and Cap Gemini SA and subsidiary Cap Gemini
America Inc. formed a joint venture to deliver information
technology consulting services and solutions to electric, gas and
water utilities and service providers in the United States and
The joint venture, known as Cap Gemini Hagler Bailly LLC, will
be owned equally by Hagler Bailly and Cap Gemini America. The
partners will each invest capital in the venture and transfer key
senior professionals to it. Concurrently with the creation of the
joint venture, Cap Gemini is purchasing 470,975 newly issued shares
of Hagler Bailly common stock. The LLC will build on Hagler
Bailly's consulting engagements in the United States and Canada and
go to market with a series of offerings.
Founded in 1967, Cap Gemini ranks in the top five Information
Technology (IT) services firms in the world, ranks No. 1 in Europe
in the telecommunication industry and is a leader in the electric
and gas industries as well. Cap Gemini reported revenues of $4
billion in 1997. It employs 35,000 people in 15 European countries,
the United States and the Far East.
"We now can deliver to our clients strategy, business operations
and information technology consulting and implementation in a fully
integrated fashion," said Henri-Claude Bailly, CEO of Hagler
Bailly. "The IT capabilities of Cap Gemini are formidable and range
from IT consulting to systems integration, software development and
outsourcing. Their experience in the U.K. and Sweden, two markets
ahead of the transformations now affecting U.S. and Canadian
utilities, combined with their IT capabilities in the U.S., will be
extremely valuable to our clients."
Cap Gemini Hagler Bailly will be headquartered in the
Washington, DC metropolitan area and is expected to be fully
operational by September 1998.
High-end IT solutions include: advanced trading and risk
management systems, customer care and billing systems, and network
energy logistics where information becomes a substitute for pipes
and wires capacity resulting in margin transfer from the physical
delivery system to the IT-based Knowledge System.
Founded in 1980 and publicly traded since July 1997, the
Arlington, VA-based Hagler Bailly offers professional services to
corporate and government clients worldwide with a focus on energy
and network industries. Over the past 12 months, Hagler Bailly has
completed several acquisitions and announced on June 11 that it had
signed a merger agreement with Putnam, Hayes & Bartlett.
Joe Fisher, Houston
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