Stock report · Delisted · NASDAQ

Computer Task Group, Incorporated (CTG)

Delisted Delisted – acquisition · last traded December 2023

CTG no longer trades. Computer Task Group was acquired by Cegeka, a family-owned Belgian IT services company, through a cash tender offer at $10.50 per share that was completed in December 2023. The deal valued CTG at about $170 million, and its shares were delisted.

Delisting details

Exchange (former)
NASDAQ
Status
Delisted – acquisition
Last trading day
December 2023
Reason
Acquired by Belgian IT services firm Cegeka for $10.50 per share in cash
Consideration
$10.50 per share in cash
Successor
Cegeka Groep NV (private)
Sector
Technology
Industry
Information Technology Services
Headquarters
Buffalo, New York

About Computer Task Group, Incorporated

Computer Task Group, known as CTG, was an information technology services and solutions company. It provided IT staffing, consulting, managed services, testing and digital transformation work for clients in healthcare, financial services, technology, energy and the public sector. Its operations were split between North America and Western Europe, particularly Belgium and Luxembourg. The company was headquartered in Buffalo, New York.

CTG was founded in Buffalo in 1966 by two IT professionals, making it one of the older independent IT services firms in the United States. It grew by supplying programmers and project staff to large corporations and later built specialized practices, including a significant healthcare IT business. Its stock traded for decades as CTG, ending on Nasdaq. For much of its later history, IBM was one of its largest customers.

In its final years CTG worked to shift from low-margin staffing toward higher-value solutions and to expand in Europe through acquisitions. Revenue was roughly $300 million a year, and its market value was small compared with large IT services peers. In August 2023 CTG agreed to be acquired by Cegeka, a family-owned IT services company based in Hasselt, Belgium, for $10.50 per share in cash, about $170 million in total.

Cegeka completed the deal through a cash tender offer followed by a merger in December 2023, after which CTG's shares were delisted. The combination expanded Cegeka's presence in North America and added to its European operations. CTG continues to operate as part of Cegeka.

CTG FAQ

What happened to CTG stock?

Computer Task Group was acquired by Cegeka, a family-owned Belgian IT services company, through a cash tender offer at $10.50 per share that was completed in December 2023. The deal valued CTG at about $170 million, and its shares were delisted.

Can I still buy CTG stock?

No. CTG is no longer listed on NASDAQ or any other U.S. exchange.

What did CTG shareholders receive?

Shareholders received $10.50 per share in cash from Cegeka.

CTG no longer trades, so there is no live quote or chart. The information on this page is for reference only and is not investment advice; see our disclaimer.