U.K.-based private equity fund Apax Partners LLP is in advanced talks to acquire a stake in Indian data analytics company Fractal Analytics Inc., Bloomberg News reported, citing people with knowledge of the matter.
Apax will acquire the stake from existing shareholders of Fractal in a deal that may be valued at about US$400 million. Apax is reportedly also in discussions to inject fresh capital into Fractal that would make Apax the company's majority shareholder.
Fractal is seeking funds to promote growth and is looking for acquisitions, one of the people told Bloomberg, adding that some of the existing shareholders may exit as part of the deal.
Fractal is backed by private equity firm TA Associates Management LP, Malaysia's sovereign wealth fund Khazanah Nasional Bhd., Aimia Inc. and founder of MIRC Electronics Ltd., Gulu Mirchandani.