Apax to buy out ChrysCapital-backed IT Services co. Infogain in $900-M deal

Global Private Equity firm Apax is to buy out home grown PE firm ChrysCapital from Los Gatos, CA (USA)-headquartered Infogain, a provider of digital platform and software engineering services. The deal envisages Apax buying 100% of Infogain for a reported USD 800-900 million, including ChrysCapital's entire 70% stake and the balance stake from the target company's founders and senior executives. The company's chief operating officer Ayan Mukerji, who joined the firm in 2018, will become chief executive officer, replacing Sunil Bhatia. Infogain was advised by Credit Suisse (financial advisor). Wilson, Sonsini, Goodrich & Rosati (WSGR) served as the legal counsel to Infogain in the US, Shardul Amarchand Mangaldas & Co as the legal counsel in India, and E&Y as the financial and tax advisor. Apax was advised by Kirkland & Ellis (legal advisor) while ChrysCapital was advised by WSGR (legal advisor).