Apax Global Alpha Share News (APAX)

(Sharecast News) - Apax Global Alpha said on Thursday that the Quebecois pension investor CDPQ has agreed to acquire a controlling stake in Wizeline from the Apax Digital Fund, in which it is a limited partner.

The FTSE 250 company said the Apax Digital Fund would retain a minority shareholding in Wizeline following the transaction.

It said the transaction valued its look-through investment in Wizeline at about €10.3, representing an uplift of 64% to the last unaffected valuations, and of €4.0m in Apax Global Alpha's adjusted net asset value as at 30 June.

"Founded in 2014, Wizeline is a global technology services provider that builds digital products and platforms that accelerate time-to-market," the Apax board said in its statement.

"The company focuses on measurable outcomes, partnering with customers to modernise core technologies, mature data-driven capabilities, and improve user experience.

"The Apax funds have significant experience in the tech-enabled services sub-sector, with current investments in this space including Thoughtworks, Coalfire, Herjavec Group and Lutech."