CPrime was founded in 2003 and provides enterprise-level strategic consulting and technology solutions. It provides full-service global consulting to businesses in more than 50 industries. It counts Tesla, Carfax, Apple, Bloomberg among others as its clients.
New Delhi: Everstone Capital, the private equity arm of Everstone Group, along with Goldman Sachs Asset Management, has acquired information technology services management company CPrime. Financial details of the transaction were not disclosed.
However, a person with knowledge of the deal said the two firms paid about $300 million for the assets, which is roughly 10 times the company's Ebitda.
The firm is led by chief executive Anne Steiner, who will continue to run the company alongside existing management, SeaPrime said in a statement.
"The investment by Goldman Sachs and Everstone, their continued support of our mission, and the power of a combined global network of relationships and market expertise provide a solid foundation for future growth and innovation," Steiner said.
CPrime was founded in 2003 and provides enterprise-level strategic consulting and technology solutions. It provides full-service global consulting to businesses in more than 50 industries. It counts Tesla, Carfax, Apple, Bloomberg among others as its clients.
Harsh Nanda, Partner and Head of Technology, Private Equity, Goldman Sachs Asset Management, said, “In this ever-evolving digital age, businesses are constantly looking for ways to leverage technology to drive growth and maximize value. " With his expertise in the cloud. computing, efficient processes, and collaborative tools, Cprime is uniquely positioned to help companies around the world reach their peak performance."
Both companies acquired the North Carolina-based firm from engineering services provider Alten Group, which invested in Cprime in 2014.
“Since our investment in the business the business has achieved spectacular growth by leveraging its capabilities in Agile and DevOps,” said Gerald Attia, Co-founder of ALTEN Group. “We are pleased that the business is moving into the safe and capable hands of funds managed by Goldman Sachs and Everstone, who have impressed us with their focus on long-term growth and operational excellence.”
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