facebook-page-view
Advertisement

Everstone Capital, Goldman Sachs acquire IT services firm Cprime

By Malvika Maloo

  • 11 Jan 2023
Everstone Capital, Goldman Sachs acquire IT services firm Cprime
Credit: Thinkstock

Everstone Group’s private equity arm Everstone Capital and Goldman Sachs Asset Management have acquired US-based IT services management firm Cprime for approximately $360 million, a person with direct knowledge told VCCircle.

The entities did not disclose financial details of the transaction.

The firm will continue to be operated by chief executive Anne Steiner and the current management, Cprime said in a statement.

Advertisement

Everstone Capital senior managing director and co-head of private equity Avnish Mehra said that the firm will work with CPrime and its management to drive global expansion and enhance service line capabilities. CPrime  provides digital transformation services through tools such as Agile and DevOps, he added. 

Cprime, founded in 2003, provides enterprise-level strategic consulting and technical solutions. It provides global consulting to businesses across more than 50 industries with clients like Tesla, Carfax, Apple and Bloomberg, among others.

"In this ever-evolving digital age, businesses are continuously searching for ways to leverage technology to drive growth and maximize value," said Harsh Nanda, partner and head - technology for private equity, Goldman Sachs Asset Management, on CPrime's cloud computing, agile processes and collaborative tools. 

Advertisement

The two companies acquired the North Carolina-based firm from engineering services provider Alten Group, which had invested in Cprime in 2014.

“Since our investment in the business, Cprime has grown by leveraging their capabilities in Agile and DevOps," said Gérald Attia, co-founder of Alten Group. 

In September 2022, Everstone Capital had acquired a controlling stake in Softgel Healthcare for an undisclosed sum. The firm broadly invests in sectors such as pharma and healthcare, consumer, and financial services, in addition to technology services companies.

Advertisement

(Ranjani Raghavan contributed to the story.)

Share article on

Advertisement
Advertisement