Mubasher: Bahrain’s Investcorp on Monday announced acquiring a controlling stake in US-based leading technology talent development company Revature.
“Investcorp has so far been very successful in the investments made in the education and IT staffing sectors,” the Bahrain-based firm’s Co-CEO Hazem Ben-Gacem said in a statement.
Details of the deal including value have not been disclosed.
Investcorp’s previous investments in US companies such as Nobel Learning Communities and PRO Unlimited have enabled it to establish “a strong knowledge base and solid understanding on the demand drivers” Ben-Gacem added, indicating that Investcorp “sees great potential with a company like Revature.”
Revature, one of the largest employers of university graduates in the US, provides first-of-its-kind no-cost coding immersion programmes to cover the needs for technology skills and offers talent acquisition services for its Fortune 500 and consulting clients.
“Revature has achieved tremendous progress over the last several years and [Investcorp] look[s] forward to support[ing] its healthy growth trajectory,” Ben-Gacem noted.
The Bahrain-based private equity firm strongly believes in “Revature’s mission of empowering the next generation of technology professionals, which has redefined this business. In such a fast-paced sector, [Investcorp is] excited to support Revature’s remarkable growth and help further expand its Fortune 500 client base,” Investcorp’s managing director in Kuwait and Abu Dhabi Yusef Al Yusef said.
Investcorp’s portfolio includes over 150 investments with a combined value of over $36 billion.
In the first half of its fiscal year ended 31 December 2018, Investcorp reported $58 million in profit, an increase from $55 million achieved in the year-ago period.
