Cprime, Inc. Announces Acquisition by Goldman Sachs Asset Management and Everstone Capital Partners

Investment Will Further Accelerate Cprime's Growth and Expansion in New Markets and Digital Technologies

MUMBAI, India, Jan. 11, 2023 /PRNewswire/ -- Cprime, a leading global Agile, product, and technology consulting company, today announced its acquisition by Goldman Sachs Asset Management ('Goldman Sachs'), in partnership with Everstone Capital Partners ('Everstone'). Cprime was acquired by the consortium from leading engineering consulting services provider ALTEN Group. The acquisition has formally closed, and terms of the transaction were not disclosed.

Founded in 2003 with roots in Silicon Valley, Cprime provides enterprise-level strategic consulting and cutting-edge technical solutions, leveraging their integral relationships with Atlassian, Scaled Agile, Inc., AWS, Gitlab, Apptio, and over thirty more top-tier strategic solution partners.

The acquisition strengthens Cprime's position as a global market leader in digital technology transformation for businesses, bolstering the company's commitment to continue delivering innovative and outcome-driven solutions to its growing global customer base. Cprime will continue to operate under the leadership of its current CEO and management team.

"Our focus has always been to deliver process excellence and value-driven outcomes to customers across the globe, as they progress on their transformation journeys," said Anne Steiner, CEO of Cprime. "The investment by Goldman Sachs and Everstone, their continued support of our mission, and the power of our combined global network of relationships and market expertise provide a solid foundation for future growth and innovation. This is a welcomed and exciting development for our team as we continue to accelerate Cprime's international expansion."

"In this ever-evolving digital age, businesses are continuously searching for ways to leverage technology to drive growth and maximize value. With their expertise in cloud computing, agile processes, and collaborative tools, Cprime is uniquely positioned to help companies around the world reach their peak performance," said Harsh Nanda, Partner and Head of Technology for Private Equity within Goldman Sachs Asset Management. "We are absolutely thrilled to join forces with Cprime and work together to help even more customers realize their full potential."

"Cprime is a leader in driving digital transformation via implementing Agile and DevOps frameworks for its clients, many of whom are Fortune 500 companies. We look forward to working with Anne Steiner and the rest of Cprime's world-class management team in their next phase of growth, which will include significant global expansion as well as enhancing service line capabilities," said Avnish Mehra, Senior Managing Director and Co-Head of Private Equity at Everstone.

"Since our investment in the business in 2014, Cprime has achieved stellar growth by leveraging their capabilities in Agile and DevOps. We are glad that the business is passing onto the safe and capable hands of funds managed by Goldman Sachs and Everstone, who have impressed us by their focus on long-term growth and operational excellence," commented Gérald Attia, Co-founder of ALTEN Group.

About Cprime

Cprime is an industry-leading, full-service global consulting firm with a focus on providing integrated and innovative solutions around digital transformation, product, cloud, and technology. With over 20 years' experience, we provide strategic and technical expertise to businesses across more than 50 industries. Our team of advisors and technical experts have the know-how to meet organizations where they are to develop actionable solutions and solve business challenges. We also collaborate with our expansive network of partners to design, deploy, and harmonize technology stacks across organizations. Our mission is to empower visionary business leaders and teams to reimagine the future of work to achieve better outcomes.

To learn more visit www.cprime.com and LinkedIn.

About Everstone Capital

Singapore headquartered Everstone Capital, the private equity arm of the Everstone Group, is a global firm committed to driving economic growth and creating sustainable value. With seven offices globally (Singapore, Mumbai, Delhi, Bengaluru, New York, Dubai and Mauritius), Everstone Capital focuses on the mid-market with control mindset and growth bias; comprising best of breed investing, operations and strategic resources with significant experience and skills. Technology and Technology enabled services is a core practice at Everstone with a robust portfolio of investments including Everise, Apexon, Omega Healthcare, APIPharmeasy, Servion, Acqueon and Innoveo.

For more information, visit www.everstonecapital.com and LinkedIn.

About Goldman Sachs Asset Management

Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world's leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2.5 trillion in assets under supervision worldwide. Driven by a passion for our clients' performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Goldman Sachs Asset Management invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate and infrastructure. Established in 1986, the Private Equity business within Goldman Sachs Asset Management has invested over $85 billion since inception. We combine our global network of relationships, our unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across our portfolios.

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