Cap Gemini Drops E&Y from Name

Paris (April 16, 2004) -- Global technology and consulting firm Cap Gemini has dropped the “Ernst & Young” suffix from its corporate name as part of a massive re-branding effort that includes a multi-million dollar print and television effort.   The company, headquartered here, now operates as “Capgemini.” In 2000, Cap Gemini purchased the consulting arm of Big Four firm Ernst & Young for $11 billion. At that time it added "Ernst & Young" to its name to gain brand recognition in North America, where Cap Gemini was largely unknown. The company had previously announced plans to drop the E&Y name by May.   Cap Gemini said that it would spend roughly $60 million on the re-branding effort, which includes an ad campaign fashioned by Euro RSCG Worldwide. Over half that amount will be earmarked for North American markets.   -- WebCPA staff