Latest news with #HRsoftware
Yahoo
a day ago
- Business
- Yahoo
EQT and CPP Investments to acquire Neogov
EQT and Canada Pension Plan Investment Board (CPP Investments) have agreed to purchase Neogov, a provider of HR and compliance software for US public sector agencies, from Warburg Pincus and Carlyle. The deal places Neogov's valuation at over $3bn, inclusive of debt, as reported by Reuters from sources familiar with the matter. However, the financial specifics of the deal were not publicly disclosed by the involved parties. Neogov, which was established in 2000 and based in El Segundo, California, offers cloud-based human capital management solutions. The company is said to cater to approximately 10,000 public sector organisations across North America. Its software supports various stages of the employee lifecycle, from recruitment and onboarding to performance management and compliance monitoring. This ensures adherence to local policies and regulations. The company also runs a public sector job board in the US, and manages brands like PowerDMS and NEOED, which extend its services into public safety and education sectors. Warburg Pincus initially invested in Neogov in 2016, while Carlyle joined as a minority investor in 2021. Neogov CEO Shane Evangelist said: 'Local governments are the backbone of our communities. Our mission is to help them operate more efficiently and serve citizens more effectively. EQT and CPP Investments share our vision and bring the experience and capital to help us scale faster. 'Our priorities include advancing product innovation and AI capabilities to help public sector agencies drive increased efficiency and compliance adherence. EQT and CPP Investments' deep expertise in software and broad network of advisors will be instrumental to supporting Neogov's growth.' This acquisition will see EQT X fund being invested by 60-65% when considering closed or signed investments and announced public offers, less any anticipated syndication. EQT global technology team partner and co-head Arvindh Kumar said: 'We are excited to partner with Shane and the NEOGOV team, who are operators at the highest levels. The team brings a deep understanding of the challenges that public sector agencies face, and we're proud to support a company that has earned such trust in the public sector.' The completion of this transaction remains subject to customary conditions and regulatory approvals, with expectations to finalise in the coming months. Moelis & Company acted as the exclusive financial adviser for Neogov, with Willkie Farr & Gallagher providing legal counsel. EQT received exclusive financial advice from Jefferies, while legal counsel was provided by Ropes & Gray. "EQT and CPP Investments to acquire Neogov" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
2 days ago
- Business
- Yahoo
EQT and CPP Investments to acquire NEOGOV, a provider of HR and compliance software for U.S. public sector agencies, from Warburg Pincus and Carlyle
The EQT X fund ("EQT") and Canada Pension Plan Investment Board ("CPP Investments") have agreed to acquire NEOGOV, which serves over 10,000 public sector agencies with purpose-built government HR and compliance software solutions NEOGOV's cloud-native solutions support the full employee lifecycle and help public sector agencies drive efficiency and stay compliant with local policies and regulatory frameworks EQT and CPP Investments will partner with CEO Shane Evangelist and the management team to accelerate growth and expansion, building upon their track records in the US software sector STOCKHOLM, July 28, 2025 /PRNewswire/ -- EQT announced today that the EQT X fund ("EQT") together with Canada Pension Plan Investment Board ("CPP Investments") have agreed to acquire NEOGOV (the "Company") from funds managed by Warburg Pincus and Carlyle. Founded in 2000 and headquartered in El Segundo, California, NEOGOV delivers purpose-built human capital management and public safety solutions to nearly 10,000 public sector organizations across North America. NEOGOV's cloud-native suite supports the full employee lifecycle – from recruitment and onboarding to performance management and compliance management – while helping agencies stay compliant with local policies and regulatory frameworks. "Local governments are the backbone of our communities. Our mission is to help them operate more efficiently and serve citizens more effectively. EQT and CPP Investments share our vision and bring the experience and capital to help us scale faster," said Shane Evangelist, CEO of NEOGOV. "Our priorities include advancing product innovation and AI capabilities to help public sector agencies drive increased efficiency and compliance adherence. EQT and CPP Investments' deep expertise in software and broad network of advisors will be instrumental to supporting NEOGOV's growth." "We are excited to partner with Shane and the NEOGOV team, who are operators at the highest levels. The team brings a deep understanding of the challenges that public sector agencies face, and we're proud to support a company that has earned such trust in the public sector," said Arvindh Kumar, Partner and Co-Head of EQT's Global Technology Team. Tyler Parker, Managing Director in the EQT Private Equity advisory team, added: "It's rare to find a software company that is so well-loved by its customers, and we look forward to partnering with NEOGOV to continue to modernize public sector operations and deliver impactful technology to those on the front lines of civic service." "NEOGOV is a leading software platform with distinct customer offerings that is poised for growth due to increasing demand from its customers across North America. Together with its strong management team, the Company is a good fit for our strategy to invest in high-quality software companies. We look forward to supporting the Company in this next phase of development alongside EQT and the management team," said Sam Blaichman, Managing Director, Head of Direct Private Equity, CPP Investments. With this transaction, EQT X is expected to be 60 – 65 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication). The transaction is subject to customary conditions and approvals and is slated for completion in the coming months. Moelis & Company LLC served as exclusive financial advisor and Willkie Farr & Gallagher served as legal counsel to NEOGOV. Jefferies LLC served as exclusive financial advisor and Ropes & Gray served as legal counsel to EQT. Contact EQT: EQT Press Office, press@ CPP Investments: Asher Levine, Public Affairs & Communications, alevine@ T: +1 929 208 7939NEOGOV: Scott Jensen, Vice President of Marketing, sjensen@ This information was brought to you by Cision The following files are available for download: PR_EQT CPPI NEOGOV_25.07.28 DSC03016 View original content: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNA
2 days ago
- Business
- CNA
Exclusive-EQT to acquire software provider Neogov for more than $3 billion, sources say
NEW YORK :Investment firm EQT has agreed to acquire Neogov from its private equity owners, valuing the human resources software provider at more than $3 billion including debt, people familiar with the matter said on Monday. Warburg Pincus, the majority owner of Neogov, and Carlyle, which owns about a third of the company, will fully exit their investment as part of the sale to EQT, said the sources. The sources spoke on condition of anonymity to discuss the matter before a formal announcement, which is expected as early as this week.
Yahoo
2 days ago
- Business
- Yahoo
Exclusive-EQT to acquire software provider Neogov for more than $3 billion, sources say
By Milana Vinn NEW YORK (Reuters) -Investment firm EQT has agreed to acquire Neogov from its private equity owners, valuing the human resources software provider at more than $3 billion including debt, people familiar with the matter said on Monday. Warburg Pincus, the majority owner of Neogov, and Carlyle, which owns about a third of the company, will fully exit their investment as part of the sale to EQT, said the sources. The sources spoke on condition of anonymity to discuss the matter before a formal announcement, which is expected as early as this week. Warburg Pincus, Carlyle and Neogov did not immediately respond to requests for comment. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Exclusive: EQT to acquire software provider Neogov for more than $3 billion, sources say
NEW YORK, July 28 (Reuters) - Investment firm EQT ( opens new tab has agreed to acquire Neogov from its private equity owners, valuing the human resources software provider at more than $3 billion including debt, people familiar with the matter said on Monday. Warburg Pincus, the majority owner of Neogov, and Carlyle, which owns about a third of the company, will fully exit their investment as part of the sale to EQT, said the sources. The sources spoke on condition of anonymity to discuss the matter before a formal announcement, which is expected as early as this week. Warburg Pincus, Carlyle and Neogov did not immediately respond to requests for comment.
