Baring Private Equity Asia in talks to buy Singapore-based software firm Straive

Baring Private Equity Asia in talks to buy Singapore-based software firm Straive

- Baring Private Equity Asia is in advanced negotiations to acquire Content outsourcing company Straive from Swiss buyout firm Partners Group Holding AG, according to people familiar with the matter.

The parties are finalising details of a transaction to buy Straive, formerly known as SPi Global for about $1 billion, the people said. Baring emerged as the preferred buyer of the business after outbidding other private equity companies said the people.

An announcement could come as early as this month, the people said. Talks could still end in diablo, they said. Representatives of Baring and Partners Group declined to comment.

This deal would mark Baring's second sizable acquisition this month after the company agreed to buy Hinduja Global Solutions Ltd.'s health-care services business worth $1.2 billion.

Bloomberg News may have considered a sale of Straive as other potential investors had shown interest in buying the company.

Straive founded in 1980 provides outsourcing services to financial services firms, educational, science, technical and medical research publisher globally according to its website. It has a presence in countries including Philippines, India, China, Vietnam, U.S., India and Nicaragua. The company, whose headquarters is in Singapore, was rebranded as Straive in April by Singapore.

Partners Group bought the company from CVC Capital Partners in a 2017 deal which valued the firm at $330 million. It has since then expanded via acquisitions including last year the purchase of a majority stake in German-focused firm Helix Investments from business to business education technology service provider LearningMate for an undisclosed amount.