Apax sells 48% stake in GlobalLogic to CPPIB
Apax Partners has sold a 48% stake in GlobalLogic, an IT outsourcing company founded by several Indian entrepreneurs and which continues to have a sizeable presence in the country, to Canada Pension Plan Investment Board (CPPIB).
The size of the transaction was not disclosed. Apax bought a majority stake in the US-headquartered business just over three years ago for $420 million, taking out existing investors WestBridge Capital,...
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