Funds advised by U.K. private equity firm Apax Partners LLP agreed to sell their ownership stake in GlobalLogic Inc. to Partners Group Holding AG in a deal that values the software development firm at more than $2 billion.
In a statement, Apax said the Switzerland-based Partners Group will become an equal shareholder with existing investor Canada Pension Plan Investment Board, or CPPIB, following the acquisition.
Apax sold 48% of its equity stake in GlobalLogic to CPPIB in April 2017.
GlobalLogic employs 12,000 people and creates digital products, including next-generation cloud platforms and mobile and web applications.
Since Apax's first investment in 2013, GlobalLogic has more than doubled its revenue and EBITDA, according to the buyout firm.
