Apax Partners-backed firm buys 23.2% in Harsh Goenka's Zensar Technologies

Marina Holdco, a company backed by Apax Partners, on Friday bought 23.2 per cent stake in Zensar Technologies .

The stake was acquired from Electra Partners Mauritius, an existing minority shareholder. Financial details of the deal, however, were not disclosed by the company.

RPG Group continues to be the promoter and the largest shareholder in the company with 48 per cent stake.

"Zensar is a key focus area for the RPG Group and we aim to scale the company into top 10 Indian technology services business in the medium term, through a combination of organic growth and M&A," Chairman of Zensar and RPG Group Harsh Goenka said in a filing to the BSE.

Zensar said in association with Apax, it expects to further focus on its key differentiated capabilities and achieve a leading position in the emerging offerings including e-commerce, digital, cloud and mobility.

"Apax is a leading private equity investor in technology services space globally... we look forward to working alongside the company and RPG Group to drive transformational growth over our investment period," said Shashank Singh, MD and Head of Apax Partners India.