January 11, 2017 / 2:28 PM / 7 months ago

CPPIB to buy 48 pct stake in GlobalLogic

Jan 11 (Reuters) - The Canada Pension Plan Investment Board (CPPIB) said on Wednesday it would acquire a 48 percent stake in IT consultancy GlobalLogic Inc from private equity firm Apax Funds.

Terms of the deal were not disclosed.

San Jose, California-based GlobalLogic also develops software, and its expertise includes applications for cloud computing, embedded computing and mobile devices.

Apax Funds will retain a 48 percent stake in the company. (Reporting by John Benny in Bengaluru)

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