M&A Deal Summary

Baring Private Equity Asia Acquires CitiusTech

On July 12, 2019, private equity firm Baring Private Equity Asia acquired information technology company CitiusTech from General Atlantic

Acquisition Highlights
  • This is Baring Private Equity Asia’s 2nd transaction in the Information Technology sector.
  • This is Baring Private Equity Asia’s 5th transaction in India.

M&A Deal Summary

Date 2019-07-12
Target CitiusTech
Sector Information Technology
Buyer(s) Baring Private Equity Asia
Sellers(s) General Atlantic
Deal Type Secondary Buyout

Target

CitiusTech

Mumbai, India
CitiusTech is a healthcare technology services and solutions provider. CitiusTech offers a wide range of healthcare-related information technology services including software development, software interoperability, meaningful use compliance solutions, analytics, care management and consumer health solutions. CitiusTech was founded in 2005 and is based in Mumbai, India.

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Buyer(S) 1

Buyer

Baring Private Equity Asia

Hong Kong, China

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 17.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Baring Private Equity Asia is an Asia-focused private equity group specializing in growth equity investments and buyouts of companies valued between $300 million and $1.5 billion. Baring looks for companies that require capital for organic expansion, recapitalizations, or to fund acquisitions. The Group's geographic coverage spans China, India, Japan, Singapore, Hong Kong, and Taiwan. Baring Private Equity Asia was formed in 1997 and is based in Hong Kong.


DEAL STATS #
Overall 34 of 43
Sector (Information Technology) 2 of 4
Type (Secondary Buyout) 9 of 14
Country (India) 5 of 6
Year (2019) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-07 Pioneer

Tokyo , Japan

Pioneer is a global manufacturer based on its core Car Electronics business. In addition to the development of advanced technologies such as 3D-LiDAR sensors and an HD map for autonomous driving, Pioneer is working to create safe, reliable, comfortable, and fun in-car environments for the autonomous driving society of the near future, by providing new in-car entertainment services. Pioneer was established in 1947 and is headquartered in Tokyo, Japan.

Buy ¥102.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Acuon Capital

Seoul, South Korea

Acuon Capital Corp. is a consumer finance and leasing company. Acuon Capital Corp. is based in Seoul, South Korea.

Buy -

Seller(S) 1

SELLER

General Atlantic

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1980
PE ASSETS 73.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 104 of 144
Sector (Information Technology) 22 of 24
Type (Secondary Buyout) 18 of 25
Country (India) 7 of 10
Year (2019) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-26 StockX

Detroit, Michigan, United States

StockX is an online marketplace for buying and selling limited edition and high demand sneakers, streetwear and accessories. StockX was founded in 2015 and is based in Detroit, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-18 ENTRUST Solutions

Warrenville, Illinois, United States

ENTRUST Solutions is an outsourced provider of comprehensive design, engineering, and consulting services to utilities in the U.S. ENTRUST Solutions offers customers a full spectrum of services with expertise in gas and electric distribution, pipeline infrastructure, automation systems, and integrity management solutions. ENTRUST Solutions is based in Warrenville, Illinois.

Sell -