EQT and CPP Investments are set to acquire Neogov, a provider of HR and compliance software for US public sector agencies, from Warburg Pincus and Carlyle. The deal values Neogov at over $3bn, encompassing debt, with Neogov serving around 10,000 public sector organizations in North America.

Established in 2000 and based in California, Neogov offers cloud-based human capital management solutions, supporting various employee lifecycle stages and ensuring compliance with local policies. The company also operates GovernmentJobs.com and brands like PowerDMS and NEOED for public safety and education sectors.

Warburg Pincus initially invested in Neogov in 2016, with Carlyle becoming a minority investor in 2021. Neogov CEO Shane Evangelist expressed excitement about the acquisition, aiming to enhance product innovation and AI capabilities to drive efficiency and compliance in public sector agencies.

This acquisition will see EQT X fund invest 60-65%, with EQT and CPP Investments focusing on supporting Neogov’s growth and advancing its services for public sector agencies. The transaction is expected to be finalized in the coming months, pending customary conditions and regulatory approvals. Financial advisors and legal counsels are already in place for both parties.

Read more at Yahoo Finance: EQT and CPP Investments to acquire Neogov