Kanbay shareholders approve Capgemini merger

Source: Kanbay International

Kanbay International, (NASDAQ:KBAY) today announced that its stockholders approved the previously announced merger transaction with Capgemini SA and Capgemini Financial Services, at a special meeting of stockholders held today at Kanbay's principal executive offices.

Based on the voting results announced at the special meeting, more than 99.9% of the shares present and voting were cast in favor of the merger. Upon the satisfaction of all other conditions, the merger is expected to close on February 9, 2007.

In accordance with the terms of the transaction, each share of Kanbay common stock will be converted into the right to receive $29.00 in cash and Kanbay will become an indirect wholly-owned subsidiary of Capgemini SA.

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