Carlyle Group Inc. is considering a sale of its outsourcing business VXI Global Solutions, according to people familiar with the matter.

The U.S.-based buyout firm is working with a financial adviser on a potential deal for the company, which could be valued at $1.5 billion to $2 billion in a sale, the people said, asking not to be identified because the matter is private. Other investment funds and companies in the sector have shown preliminary interest in acquiring VXI, the people said.

Founded in 1998 in Los Angeles, VXI expanded into China in 2005 and has helped multinational companies with business process outsourcing and information technology services as they enter the world’s second-largest economy, according to its website. The company now has a presence in about 43 locations in countries such as the U.S., China, the Philippines, Sweden, Finland, Jamaica and Guatemala.

Carlyle became the majority shareholder in VXI in 2017 after acquiring a stake from owners including private equity firm Bain Capital. The company has expanded both organically and via acquisitions. In 2019, it acquired Memory Science to help build its portfolio of instructional design tools.

Considerations are at an early stage and Carlyle could still decide against a sale, the people said. A representative for Carlyle declined to comment.

Firms offering IT services have been the targets of several high-profile deals this year. Swiss buyout firm Partners Group Holding AG agreed last month to sell content outsourcing company Straive to Baring Private Equity Asia, while Veritas Capital completed its $7.1 billion acquisition of U.S. government IT service provider Perspecta Inc. in May.