Apax pumps in $200 mn in AI company Fractal Analytics

MUMBAI: Private equity firm Apax Partners has signed a definitive agreement to invest as much as $200 million to become the single largest shareholder in Fractal Analytics, India's second largest big data firm. The transaction, which consists of a secondary stake acquired from existing shareholders such as Malayasian sovereign investor of Khazanah and T.A. Associates besides a primary investment into the business, both the companies said in a statement. Though not disclosed, sources tell ET, Apax will end up with a significant minority stake of around 45%. The deal is expected to get closed by February 2019, the statement said. ET first reported about the potential transaction in its edition dated Jan 4. The company will use the investment by the Apax Funds to accelerate growth, both organically and through M&A, and to invest further in AI products and research.