Caisse de dépôt et placement du Québec acquires a majority stake in technology services provider Wizeline in San Francisco, California.
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Apax Digital Fund, which has been the company’s majority shareholder for three years, will remain a shareholder in Wizeline after the deal closes.
As a cloud company founded in 2014, Wizeline creates digital products and platforms for its clients.
CDPQ’s investment in Wizeline is said to give this company a boost to ensure its growth.
“Over the past year, we have continued to see the growing need for digital products and platforms across all industries. Now is the time to take the next important step in our journey to become a global leader in technology services,” said Bismarck Lepe, CEO and founder of Wizeline, in a statement.
“CDPQ’s investment and ongoing partnership with Apax Digital Fund will support our desire to deliver the most advanced technology solutions to clients, while contributing to developing critical skills for the next generation of technology innovators,” added Libby.
Wizeline has more than 1,400 employees at the moment.
Martin Laguerre, Senior Vice President and Head of Private Equity and Finance Solutions at CDPQ, said:
“Music guru. Incurable web practitioner. Thinker. Lifelong zombie junkie. Tv buff. Typical organizer. Evil beer scholar.”