This is to inform you that a renowned private equity firm named Warburg Pincus based in Mumbai, reportedly acquired a stake in Eversise Holdings, an IT services firm with a valuation of $1 billion. As per the report, this major development was confirmed by Warburg Pincus in a statement. After Warburg Pincus announced it had acquired stakes in Everise Holdings, people started speculating if Warburg Pincus has become the majority stakeholder in Everise Holdings or if Brookfield Asset Management is still the majority stakeholder in the company. To cater to all the queries that are propelling in people’s minds regarding the majority stakes in Everise Holdings, we have come up with this article. Keep reading this article and go through it till the end. Drag down the page.
Warburg Pincus Acquires Stakes In Everise Holdings
Brookfield Asset Management is still the majority stakeholder in Everise Holdings at a valuation of $1 billion and it will retain some of its stakes, co-owner Everstone will exit part of the transaction. However, previously Brookfield decided to free a majority stake in the IT service firm Everise but on Tuesday the company’s statement did not mention whether Warburg Pincus acquired a majority stake in the company or not.
For the unversed, Everstone acquired a C3 US-based business process outsourcing company to create Everise, along with Sunrise BPO, in 2016. However, Everstone sold a majority stake in the firm to Brookfield in 2020. Brookfield acquired the majority stakes in Everise for approximately $450 million. Nonetheless, Brookfield also acquired a 20 percent stake in Everise through a different fund. According to the reports, Warburg Pincus’s purchase of stakes in Everise on Tuesday is subject to customary regulatory approvals and is expected to close by the end of this year. Scroll down the page and read more details.
Managing director of Warburg Pincus, Viraj Sawhney said, “Warburg Pincus has been an active investor in the global outsourced technology-enabled services space, and Everise presents an attractive platform to offer such services to the global healthcare payer and provider ecosystem. We have continued to see strong underlying demand for quality customer experience, driven by an increasing outsourcing trend across the global healthcare industry,” Warburg Pincus’s MD further added with our deep network and resources across the US and Asia, we are able to help Everise gain further momentum as a leader in the industry. Saurabh Agarwal is the managing director of Warburg Pincus. Stay tuned.