CPPIB to acquire 48 pct stake in GlobalLogic from Apax
Canada Pension Plan Investment Board has agreed to acquire a 48 percent stake in GlobalLogic Inc, a U.S. provider of digital product development services, from British private equity firm Apax Partners. No financial terms were released for the deal, which will see Apax retain an equal interest alongside CPPIB. San Jose, California-based GlobalLogic reports achieving a 20 percent-plus compound annual growth rate in the past three years. CPPIB Head of Direct Private Equity Ryan Selwood said the pension fund will help back the company's next phase of growth in the global software engineering services market. Apax acquired GlobalLogic in 2013.
11 January 2017•5 mins read
