Marina Holdco (FPI), a company backed by funds advised by Apax Partners, announced the acquisition of 23.2 per cent stake in RPG Group promoted IT services provider Zensar Technologies. Apax acquired the stake from Electra Partners Mauritius, an existing minority shareholder in Zensar.
After the deal RPG Group continues to be the promoter and the largest shareholder in the company with a 48 per cent stake. In association with Apax, the Zensar expects to further focus on its key differentiated capabilities and achieve a leading position in the emerging offerings including e-commerce, digital, cloud and mobility.
Commenting on the deal, Harsh Goenka, Chairman of Zensar and the RPG Group said, “The association with Apax is a welcome development and is expected to bring significant value to the company. Zensar is a key focus area for the RPG Group, and we aim to scale the company into a Top-10 Indian technology services business in the medium-term, through a combination of organic growth and M&A.”
