Partners Group is buying a majority stake in CSS Corp., a specialist technology outsourcing firm, for $270 million.
San Jose, Calif.-based CSS serves a client base throughout the U.S. and Europe, as well as in India, the Philippines, Mauritius, Costa Rica and China. The company provides customers with cloud enablement, technical support and remote infrastructure management.
Partners Group is expected to expand the company’s presence in other countries and regions.
Cloud-computing and information technology support have become a greater area of focus for financial sponsors and strategic acquirers alike. The CSS deal comes one day after Thoma Bravo LLC agreed to purchase Keynote Systems Inc. (Nasdaq: KEYN), a provider of cloud-based tools for testing mobile applications and websites, in a take-private deal valued at roughly $395 million.
According to Partners' Andreas Baumann, "this is a sector in which we expect to see strong growth going forward as demand for these services increases."