On Monday, the largest European technology-services provider Capgemini announced that it has agreed to buy iGate Corporation for about $4 billion to boost its presence in the North American market.

The offer has been approved by both companies’ boards and the majority of iGate’s investors.

Under the deal, Capgemini said that it had offered $48 for every share of iGate.

The investors of iGate will receive $48 a share in the transaction, which has been agreed by most of its shareholders. The deal represents a 4.7% premium on iGate’s closing share price on Friday.

Capgemini’s chief executive, Paul Hermelin said, “IGate is a leading company that perfectly fits our strategic ambition.It will give us a new status on the American market".

This deal has marked a new chapter in the history of Capgemini, which is one of the five biggest computer services providers in the world in the late 1980s.

According to the Paris-based company, this deal would make North America the company’s largest market, by revenue, with more than a combined 50,000 employees working in the region.

The transaction in total will create a combined company with more than $13.6 billion in annual revenue and with a global work force of 190,000. Additionally, the transaction would allow the French company to gain access to customers including General Electric Co. and Royal Bank of Canada.

Capgemini also said that it wants to add iGate’s focus on consultancy and outsourcing services in the financial services sector with its own businesses targeted at the retail, manufacturing and health care industries. The company anticipates an estimated $75 million of annual cost savings within the first three years.

Capgemini shares rose 1.1% to 79.2 euros in Paris during early trades on Monday. Igate fell 0.1%to $45.85 on Friday, for a 12-month advance of 28%.