KKR is close to acquiring German IT firm Datagroup, signaling a major move in the tech industry. Discover the impact of this acquisition.
In a significant move within the IT services sector, KKR, a prominent private equity firm from the United States, is reportedly nearing the acquisition of Datagroup, a well-regarded IT services provider listed on the Frankfurt Stock Exchange. This development was initially reported by Bloomberg and Reuters, citing confidential sources familiar with the negotiations.
The discussions between KKR and Datagroup have reached an advanced stage, with an official offer expected to be made public later this week. However, insiders caution that the deal is still under consideration and is not guaranteed to proceed to completion.
Datagroup, with a market valuation of approximately 340.2 million euros ($383.47 million), is a significant player in the German IT landscape. The company, which employs around 3,700 individuals across various sites in Germany, has projected its revenue to rise between 545 million euros and 565 million euros for the current fiscal year.
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