Information technology recruitings firm Pentasols is being sold to private equity group, CVC Capital Partners, for $1.5 billion, according to people familiar with the transaction.
The deal could be a big boost for the private equity firm.
CVC has already invested $1 billion in Pentasolis.
It is one of the most valuable private equity companies in the world, with a market cap of $50 billion, two people familiar said.
Investors are particularly excited about Pentasolic’s ability to serve a growing market in the data-driven data-intensive information technology (DITI) industry.
The firm has seen growth in its core DITI business over the past few years, said a person familiar with Pentasolas plans.
The company has been selling DITIs to companies like Google, Facebook and other tech giants, and has a significant presence in the IT space.
The Pentasolar business has long been a target for tech firms, said another person familiar.
It was once an expensive, labor-intensive process to buy and run a small DITi.
But the rise of cloud computing has made it possible to scale quickly and cheaply, and now the company is facing the threat of the internet of things, which will put pressure on its business.
It is also a key part of the growth strategy for the company, which in turn is attracting new customers to its cloud-based platform.
That is a big advantage for the investment.
Pentasolics technology business is growing fast and Pentasoles competitors have also become much more sophisticated, said one person familiar, adding that it will be hard to beat them.
The sale of Pentasolo, the third-largest DIT I business, is the biggest deal for Pentasolin.
Its sales have been strong and pentasol is well positioned to expand its DIT business, said the person familiar about the deal.
The transaction is expected to close by the end of the year.
The firm has raised about $7 billion, including a $4 billion loan.