PE Fund Investments
Goldman Sachs buys majority stake in HR-tech co. PeopleStrong
Goldman Sachs Alternatives, the private equity arm of Goldman Sachs, has acquired a majority stake in Gurugram-based human resources management firm PeopleStrong . The deal valued the company at INR 1,200 crore.Prior to the deal, Multiples Alternate Asset Management held a 84% stake in PeopleStrong, while founders own 2%. The remaining stake is held by angel investors and employees.PeopleStrong offers a HCM (Human Capital Management) platform with capabilities across applicant tracking systems (ATS), payroll, employee experience and talent management.
In 2017, Multiples PE had picked up a majority stake in PeopleStrong by investing INR 400 crore via combination of secondary sale and primary capital infusion.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
