Transaction values GlobalLogic at over $2B, bringing another strategic global investor on board for next phase of growth
GlobalLogic, Apax Partners, and Partners Group announced that Funds advised by Apax Partners, the global private equity advisory firm, have agreed to sell their ownership stake in GlobalLogic to Partners Group, the global private markets investment manager, which is acting on behalf of its clients in the acquisition. The transaction values GlobalLogic, a leader in digital product engineering services, at over two billion dollars. Following the acquisition, Partners Group becomes an equal shareholder with existing investor Canada Pension Plan Investment Board (CPPIB).
With over $500M in revenue, and20%+organic growth rate, GlobalLogic has more than doubled in revenue and EBITDA since the Apax Funds first invested in the company in 2013. The company has been an innovator in the digital product engineering services space, with 12,000 employees worldwide working at design studios and engineering centers across the globe. GlobalLogic helps clients build innovative digital products that enhance customer engagement, and create new revenue streams. Its clients represent well-known global brands across multiple industry verticals.
Demand for digital product engineering services has grown rapidly, and GlobalLogic has been instrumental in helping organizations navigate the digital transformation arena. Next-generation cloud platforms, mobile and web applications, the Internet of Things (IoT), and other digital experiences have amplified the urgent need for brands to stay inventive and be able to offer customers a personalized and coherent service experience. GlobalLogic helps its customers build these innovative products and accelerates their journey in becoming the digital businesses of tomorrow. With Partners Group on board, the company can leverage the firm’s relationships, as it looks to continue togrow the business, especially in Europe.
“Partners Group has a long and successful track record of working with high growth companies and we are very pleased to have an investor that understands our business and shares our vision of building an even stronger company,” said Shashank Samant, CEO, GlobalLogic. “We are thankful to Apax Partners for their strong partnership and strategic support for the past four and a half years, and we look forward to our next chapter of growth as we expand into new markets and geographies with our new investment partner.”
