Goldman Sachs, Everstone strike control deal for tech consulting firm Cprime
Cprime, a global product and technology consulting company, said Wednesday that Goldman Sachs Asset Management in partnership with Indian private equity firm Everstone Capital Partners has acquired the firm from engineering consulting services provider ALTEN Group.
The terms of the transaction were not disclosed.
The development comes four months after Everstone struck another control deal in its first new bet in almost two years.
Cprime was founded in 2003 and has roots in Silicon Valley. It provides enterprise-level strategic consulting and technical solutions, leveraging their integral relationships with Atlassian, Scaled Agile, Inc., AWS, Gitlab, Apptio, and over thirty more top-tier strategic solution partners.
Cprime will continue to operate under the leadership of its current CEO and management team.
Anne Steiner, CEO of Cprime, said: “The investment by Goldman Sachs and Everstone, their continued support of our mission, and the power of our combined global network of relationships and market expertise provide a solid foundation for future growth and innovation.”
“In this ever-evolving digital age, businesses are continuously searching for ways to leverage technology to drive growth and maximize value. With their expertise in cloud computing, agile processes, and collaborative tools, Cprime is uniquely positioned to help companies around the world reach their peak performance,” said Harsh Nanda, Partner and Head of Technology for Private Equity within Goldman Sachs Asset Management.
“We look forward to working with Anne Steiner and the rest of Cprime’s world-class management team in their next phase of growth, which will include significant global expansion as well as enhancing service line capabilities,” said Avnish Mehra, Senior Managing Director and Co-Head of Private Equity at Everstone.