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KKR nears $1.7 billion deal for IT services firm Ensono - sources

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Krystal Hu
·1-min read
FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the NYSE in New York
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By Krystal Hu

(Reuters) - Buyout firm KKR & Co Inc is nearing a deal to acquire information technology services provider Ensono from Charlesbank Capital Partners and M/C Partners for around $1.7 billion, including debt, according to people familiar with the matter.

A deal could be announced as soon as Wednesday, the sources said, requesting anonymity because the negotiations are confidential.

Ensono, Charlesbank and KKR declined to comment.

Illinois-based Ensono provides cloud infrastructure services to businesses and government agencies. It hosts servers, databases and mainframe operations, counting Sonoco Products Co, Travelodge and the state of Kansas as its clients.

The company has benefited from the accelerating digital transformation during the COVID-19 pandemic, as more corporations seek to move operations virtually and migrate to the cloud. Global IT spending is expected to grow 8.4% to $4 trillion in 2021, according to Gartner.

Earlier this month, Ensono acquired Amido, a UK-based cloud-native consultancy, to strengthen its global offerings.

Charlesbank acquired Ensono from marketing and data services company Acxiom Corp in a $190 million deal in partnership with M/C Partners in July 2015.

(Reporting by Krystal Hu in New York, additional reporting by Josh Franklin in Boston, Editing by Nick Zieminski)