Deals
Goldman Sachs to Sell BackOffice Associates to Bridge Growth
- Deal is said to value data services firm at about $300 million
- Goldman, SAP and management to retain minority stakes
Goldman Sachs Group Inc. Offices
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Goldman Sachs Group Inc.’s merchant banking unit has agreed to sell a majority stake in data management services and software provider BackOffice Associates LLC to peer Bridge Growth Partners.
Bridge Growth’s investment will value the company at about $300 million, said two people with knowledge of the matter who asked not to be identified because they weren’t authorized to speak publicly. Goldman Sachs, BackOffice management and German software company SAP SE are retaining minority stakes in the company, Bridge Growth Managing Principal Alok Singh said in a statement.