Carlyle in talks with Prizm for controlling stake – report

The transaction will see Sequoia exit Prizm, three people with knowledge of the developments told The Economic Times, adding that Carlyle may end up with 70-80% stake. Last August, Sequoia put another $8 million into the company, taking its total investment to $18 million since 2008.

"The company received four bids and has now entered into exclusive talks with Carlyle India and is likely to close the deal by end of the year," said an investment banker with knowledge of the deal.

Earlier this year, Prizm hired J.P. Morgan to search for potential bidders. Bain Capital, Advent and Tata Communications, Japan's NTT Group and ATM manufacturers NCR and Diebold were said to have submitted offers.

Founded in 2008, Prizm deploys and manages over 10,000 ATMs and more than 25,000 points of sale devices. It has around 750 employees and 105 service locations across the country. The promoters and management own a little over 50% of the unlisted company.

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• Topics
• South Asia
• Financials
• Expansion
• Exits
• India
• Financial Services
• Exit
• The Carlyle Group
• Sequoia Capital