Apax Partners Announces $1 Billion Investment in TIVIT

Skadden is representing Apax Partners, which announced a definitive agreement to acquire a controlling interest in TIVIT, the leader in integrated IT and BPO services in Latin America. Under the terms of the agreement, announced May 10, Apax will acquire 54.25 percent of the issued and outstanding capital stock from TIVIT’s controlling shareholders. Following the closing of the acquisition of these shares, Apax will commence a mandatory public tender offer to acquire all remaining shares of TIVIT. The two transactions value the company at US$1 billion.