Goldman Sachs in Talks to Acquire Majority Stake in PeopleStrong
Overview
Guess what? Goldman Sachs, a big Wall Street investment bank, is thinking about buying a lot of PeopleStrong, a company that helps other companies with their HR technology. They might pay around Rs 1,500 crore for it!
What PeopleStrong Does
PeopleStrong helps companies with all things related to their employees, from when they first get hired to when they leave. They do stuff like human capital management, payroll, finding and keeping talented people, and helping employees work together better.
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Where They Work
PeopleStrong is based in Gurugram, but they do business in lots of places like India, Singapore, Thailand, the Philippines, and more. They work with over 500 big companies in Asia, who together have more than 2 million employees. Some of their clients include AirAsia, Cipla, Kotak Mahindra Bank, and Paytm.
Who Owns PeopleStrong
A company called Multiples PE bought most of PeopleStrong in 2017. They own 84% of the company, while the founders and other early investors own the rest.
Recent Acquisitions
Under Multiples PE, PeopleStrong has bought a few other companies to help grow their business. In 2022, they got PayReview, a platform that helps with salaries and compensation. Before that, in 2019, they bought Qilo, a company that helps with performance management. They’ve also acquired Grownout and Capabiliti in the past.
Multiples PE’s Other Investments
Multiples PE has also invested in other tech companies like MoEngage, which helps businesses engage with their customers, and Quantiphi, a company that uses artificial intelligence and big data to help big companies in different industries.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.