Warburg Pincus, a US-based private equity firm, is considering a buyout of Nagarro, a German IT services company, reported Bloomberg, citing sources.
Sources indicated that Warburg Pincus is working with advisers on a proposal to take Nagarro private.
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However, the discussions are ongoing, and there is a possibility that Warburg Pincus may decide against making an offer.
Nagarro, which has a market valuation of €1.3bn ($1.4bn), confirmed in a statement that it is in talks with potential suitors for a possible take-private transaction, including a public tender offer, without naming the interested parties.
“Against the background of recent media reports, the Nagarro management board confirms that, in the context of Nagarro’s evaluation of strategic options and as part of discussions supported by certain board members holding Nagarro shares, Nagarro is in talks with certain interested parties regarding a potential take-private of Nagarro including a public tender offer,” the statement read.
A representative for Warburg Pincus declined to comment on the matter.
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By GlobalDataMunich-based Nagarro was separated from consultancy and service company Allgeier in late 2020.
The company specialises in digital engineering services for various industries, such as automotive, banking and financial services, energy and utilities, gaming, and entertainment.
Nagarro currently employs approximately 18,300 individuals across 37 countries.
Warburg Pincus has a significant investment history in Europe, having invested more than $14bn in more than 125 companies.
In 2024, the firm made investments in UK-based Specialist Risk Group and divested its stakes in Aion Bank and Vodeno to UniCredit.
In the technology sector, Warburg Pincus led a $350m funding round in June 2024.
The beneficiary of this funding, CData, was founded in 2016 and is focused on developing data integration solutions to meet the growing demands for data processing and sharing capabilities. These solutions are crucial for supporting the artificial intelligence strategies of businesses.
