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Goldman Sachs funds to buy majority stake in Nordic IT company Advania

Funds managed by Goldman Sachs Group Inc.'s merchant banking division will acquire a majority of the shares in Nordic technology services company Advania AB, alongside management, VIA Equity A/S and other reinvesting shareholders.

The financial terms of the transaction were undisclosed.

The stake acquisition is also subject to customary closing conditions and antitrust approvals, Advania said Feb. 15 .

Advania has about 1,400 employees across five countries.

Raymond James Financial Inc. served as exclusive financial adviser to Advania, while Goldman Sachs Investment Banking served as exclusive financial adviser to Goldman Sachs Merchant Banking Division.