LONDON, UK: Apax X Fund, in which AGA is a limited partner, has signed a definitive agreement to acquire a majority ownership stake in Infogain, a Silicon Valley-based leader in digital platforms and software engineering services.
The transaction is expected to close in Q3 2021, subject to customary closing conditions.
On a look through basis, AGA is expected to invest up to €22.1m in the company, depending on final closing arrangements.
Note that this figure relates to AGA’s look through position of Apax X’s overall investment in Infogain and is stated before taking into account any closing adjustments and translated based on the latest exchange rates available where applicable.
Founded in 1990 and headquartered in Los Gatos, California, Infogain provides human-centered digital platform engineering services to its customers.
With c. 5,000 employees globally, Infogain serves companies, including Fortune 500 customers, in the travel, healthcare, retail/Consumer Packaged Goods, insurance, and tech industries, supporting them in their artificial intelligence, experience design and cloud journey using advanced software technologies.
Drawing on the Apax Tech team’s significant experience in the Tech-Enabled Services sub-sector, with 15 deals over the last 10 years, Apax X, in partnership with Infogain’s management team, will look to continue and accelerate Infogain’s journey as a market leading digital transformation partner to its customers.
Infogain has built a strong platform for growth with an impressive global customer base, and the Apax Funds will look to support the company’s continued focus on innovation, service excellence and customer impact.
AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax, as well as a focused portfolio of debt and equity investments (“Derived Investments”). In July 2019, AGA made a commitment of c.$450m2 to Apax X.
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