Nitel Valued at $700 Million After Cinven Takes Stake

Private-equity firm Cinven Ltd. has agreed to make a significant investment in technology services provider Nitel, according to a statement reviewed by Bloomberg.

While terms of the transaction weren’t disclosed, the deal values the company at about $700 million, according to people familiar with the matter who asked not to be identified discussing private information. A representative for Cinven declined to comment on the valuation.