Carlyle Confirms Deal To Buy Majority Stake In AI-Focused IT Consultancy Firm Adastra

Adastra has among its clientele high-profile companies, including Audi, Volkswagen, AstraZeneca, T-Mobile, and HSBC.

U.S. asset management and financial services company Carlyle Group (CG) has agreed to acquire a majority stake in data analytics and IT consultancy company Adastra Group SE.

Founded in 2000 and headquartered in Prague, Czech Republic and Toronto, Canada, Adastra helps customers unlock business value through data-driven innovation. It also guides clients through their artificial intelligence (AI) journey.

The financial terms of the deal weren’t disclosed, although Bloomberg, which previously reported the deal rumor, said the consideration involved is $400 million, including debt.

The company’s clients are primarily from the financial services, insurance, automotive, manufacturing, TMT (technology, media and telecom), retail, and professional services verticals. 

It has more than 2,000 employees across several market-facing and global delivery centres.

Adastra CEO Rob Turner and COO Pavel Kysela, in a joint statement, said, “This is an exciting and transformative step for Adastra.”

“With Carlyle’s deep experience and global network, we believe we can unlock a new phase of growth for the business and capitalise on the substantial opportunity in the global market for AI, Data, and Cloud services.”

Carlyle said the equity investment will be provided jointly by Carlyle Europe Technology Partners V and Carlyle Asia Partners Growth II.

Adastra’s founders, Jan Mrazek, Jan Červinka, and Petr Jech, will retain their respective minority stakes and stay on in the company.

It has among its clientele high-profile companies, including Audi, Volkswagen, AstraZeneca, T-Mobile, and HSBC.

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