Columbia-based TCube Solutions will be expanding its global reach after being acquired by Capgemini. TCube president Sam McGuckin saw the need to merge after realizing the number of companies looking to do the same things in which his company specializes.
“We had 14 companies like Capgemini all sending expressions of interest in inquiring us, with that many people getting into our space on that scale we would be at a competitive disadvantage if we did not partner with someone,” McGuckin said in an interview today. “We thought we picked the best in the industry for a couple of reasons. First, they’re a global multinational meaning they have a multicultural workforce and a tremendous brand in the industry. They foster an entrepreneurial culture, you’re not just part of the machine.”
Based in Paris, Capgemini has over 180,000 employees worldwide and focuses on consulting, technology and outsourcing services. McGuckin said Capgemini has also declared Columbia its insurance center of excellence, meaning they will put more people in the city and plan to invest and scale up in Columbia.
“TCube Solutions’ growth trajectory and commitment to delivery makes it a natural fit for Capgemini,” Thierry Delaporte, Group Executive Board Member, responsible for Financial Services at Capgemini, said in a statement. “Their market leading services and skill set in Duck Creek Technologies’ based offerings opens up new possibilities for Capgemini to address the needs of the insurance industry and our strategic client base worldwide. We are very pleased to welcome the TCube team and look forward to the positive impact of their deep industry experience and excellence in execution.”
North America is Capgemini’s largest region, accounting for 30% of overall revenues. Its 2016 revenue totaled $4.06 billion, an increase of 14.3% from 2015.
McGuckin said TCube has a vertically oriented niche dealing with property casualty insurance companies, but with Capgemini, his clients will now have other options.
“They allow us to harness some of their broader capabilities,” McGuckin said. We’re hyper-focused on implementing property casualty systems, but they have different services we don’t do. We can offer more opportunities.”
The acquisition comes on the heels of TCube announcing a move to the First Base Building at BullStreet Commons. McGuckin said the plan is to move 100 employees into the offices within the next 90 days, with another 100 planned for the summer.