This content is from: Innovation

Citi PE Fund To Pay $307M For Ness

A private equity fund of Citigroup is planning to acquire IT company, Ness Technologies.

A private equity fund of Citigroup is planning to acquire IT company, Ness Technologies, The Wall Street Journal reports. The portfolio will pay a total of around $307 million for the acquisition.

As part of the transaction, an affiliate of Citi Venture Capital International (CVCI) will pay $7.75 per share in cash. CVCI, which handles $7 billion in equity investments and committed capital, is part of Citi Capital Advisors, adds Reuters.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.

Related Content