APAX INFOGAIN DEAL
Carlyle, CVC & Hillhouse in the fray for GeBBS
Global private equity firms including Carlyle Group, Hillhouse Investment and CVC Capital Partners have been shortlisted to acquire ChrysCapital-owned GeBBS Healthcare Solutions, said people familiar with the development. The deal proposes to value the Los Angeles-based healthcare business process outsourcing firm at $800 million. The firms, shortlisted after the initial round, will submit a binding offer by mid-July, said one of the persons, who did not wish to be identified.
PE fund Apax to step up India play with new team
The Apax strategy is more pivoted toward control deals, given its focus on being able to have a seat on the table to drive changes. It is, however, open to partnering with quality founders and management teams in minority settings "where there's a meeting of minds," Haldea said.
Chrys Capital looks to sell GeBBS at $1b valuation
ChrysCapital, the largest homegrown PE fund, is looking to sell GeBBS Healthcare Solutions, about six years after acquiring the Los Angelesbased healthcare business process outsourcing (BPO) company, said multiple people aware of the development. A potential deal is likely to value GeBBS at $800 million to $1 billion, the people said.
Apax India hires veteran Leo Puri
Leo Puri has been hired as an Advisor and chairman of Apax India. He will provide mentorship, strategic advice, and assess new investment opportunities. With a wealth of experience, Puri will work closely with Anurag Sud, Rohan Haldea, and the Apax Funds to drive success in India.
PE veteran Shashank Singh quits Apax Partners
Singh will be moving permanently to London, the sources added. He joined Apax in 2004 in its London office and moved to the India office in 2007 and took charge after Neeraj Bharadwaj left the firm for Carlyle Group in 2013.
Apax leads race for $450-$500M stake buy in IBS
Apax is believed to have offered $450-$500 million for the stake, valuing IBS Software at $1.4-$1.5 billion, they said. JP Morgan is advising Blackstone to find a buyer for its stake. Apax, CVC Capital and Thomas H Lee Partners had been shortlisted for the stake sale, ET reported on April 12.
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Apax Partners set to buy up to 40% stake in engineering firm Quest Global
Apax is looking to acquire up to 40% stake primarily from the two existing investors - Advent International and Bain Capital - valuing the company at $2.1 billion. The two funds together own around 33% of the company. Singapore's investment firm GIC, which also owns a small 2-3% stake in the company, may also tag along. Some of the co-founders and management, too, are open to dilution.
Apax, TA, Carlyle shortlisted for likely $1 billion Quest Global deal
One more global private equity fund might also make the cut as existing investors Advent International and Bain Capital, which together own around 33% of the company, are looking to monetise their five-year-old investment. Singapore's investment firm GIC, which owns a small 2-3% stake in the company, may also sell its stake, the sources mentioned above said.
Infogain acquires cloud-native app development firm NNT
This is the company’s fourth acquisition since 2019.
Advent to acquire Encora for $1.5 billion
While Warburg owns 80% of the company, the rest is held by founder Venu Raghavan and the management.
Amazon writes to Sebi on Future-Reliance; CCI meets sellers for ecomm probe
Amazon, which won a huge victory against Future Retail in the Supreme Court in early August, is doing everything in its power to thwart its takeover by Reliance. It has now written to Sebi, asking the regulator to withdraw the conditional approval.
Suitors line up to acquire Hexaware Technologies in $2.5-billion deal
Private equity firms Bain Capital, Carlyle Group and KKR & Co., as well as French outsourcer Teleperformance SE, are in fray to acquire Hexaware Technologies for $2.5 billion from Baring PE Asia in potentially the largest IT deal in India.
PE-VC investments up 33% in H1 of 2021
The first half (January-June) of 2021 saw investments of $27.1 billion (across 442 deals) in the first half of 2021 compared to $20.4 Billion (across 433 deals) during the same period last year, data from research firm Venture Intelligence, shows.
Private equity fund Apax to acquire US digital platform Infogain
The deal where Apax will buy about 70% stake, values Infogain at about $570 million. Homegrown PE fund Chryscap owns a controlling stake in Infogain.
IT companies grab lion's share of PE deals, Venture Intelligence
IT companies have grabbed 57% share of the mega PE deals , attracting $3,358 million across 107 deals with the Blackstone buyout of Intelenet during Q3’15.
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