{"id":19722,"date":"2020-09-30T15:15:10","date_gmt":"2020-09-30T19:15:10","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/cppib-to-take-24-stake-in-global-digital-it-company-150452"},"modified":"2020-09-30T15:15:10","modified_gmt":"2020-09-30T19:15:10","slug":"cppib-to-take-24-stake-in-global-digital-it-company","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2020\/09\/30\/cppib-to-take-24-stake-in-global-digital-it-company\/","title":{"rendered":"CPPIB to take 24% stake in global digital, IT company"},"content":{"rendered":"<div class=\"alignleft clearfix\">\n<div class=\"wp-caption feature-image alignleft\"> <img decoding=\"async\" loading=\"lazy\" width=\"316\" height=\"190\" src=\"https:\/\/www.benefitscanada.com\/wp-content\/uploads\/2017\/09\/InformationTechnology-IT-123RF.png\" class=\"attachment-feature size-feature wp-post-image\" alt title=\"CPPIB to take 24% stake in global digital, IT company\"> <\/div>\n<\/p><\/div>\n<p class=\"byline\"> <span>Staff <\/span>&nbsp;|&nbsp;September 30, 2020 <\/p>\n<p>The Canada Pension Plan Investment Board&nbsp;is committing US$300 million to&nbsp;take an approximate 24 per cent stake&nbsp;in Virtusa Corp., a global digital&nbsp;and information technology services company.<\/p>\n<p>The proposed acquisition, alongside Baring Private Equity Asia,&nbsp;follows the announcement earlier this month that Virtusa and BPEA entered into a merger agreement under which funds affiliated with BPEA will acquire all outstanding shares of common stock of Virtusa for US$51.35 per share in an all-cash transaction valued at about US$2 billion.&nbsp;<\/p>\n<p><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/news\/cppib-looks-to-cash-in-on-disruption-and-shifts-in-technology-demographics-122002\">CPPIB looks to cash in on \u2018disruption\u2019 and shifts in technology, demographics<\/a><\/strong><\/p>\n<p>\u201cThis is a significant opportunity to acquire an interest in a highly differentiated player in the fast-growing IT services industry, alongside our long-standing partner BPEA,\u201d said Frank Su, managing director and head of private equity for Asia at the CPPIB, in a press release. \u201cVirtusa\u2019s ability to partner with a blue-chip client base to rapidly build scale in an industry with strong fundamentals will deliver long-term value for CPP contributors and beneficiaries.\u201d<\/p>\n<p>The transaction is expected to close in the first half of 2021, subject to the approval of Virtusa\u2019s shareholders and customary regulatory requirements.<\/p>\n<p> <a href=\"https:\/\/www.benefitscanada.com\/news\/cppib-to-take-24-stake-in-global-digital-it-company-150452\">Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Staff &nbsp;|&nbsp;September 30, 2020 The Canada Pension Plan Investment Board&nbsp;is committing US$300 million to&nbsp;take an approximate 24 per cent stake&nbsp;in Virtusa Corp., a global digital&nbsp;and information technology services company. The proposed acquisition, alongside Baring&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19722"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=19722"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/19722\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=19722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=19722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=19722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}