EQT and CPP Investments Acquire Neogov for Over $3 Billion

EQT and Canada Pension Plan Investment Board have agreed to acquire Governmentjobs.com, Inc., a compliance software provider, for more than $3 billion, including debt. The acquisition is expected to be completed by EQT X, EQT AB, and CPP Investments. The deal marks EQT's latest move in the software industry, following previous acquisitions in the sector.

EQT and Canada Pension Plan Investment Board (CPP Investments) have agreed to acquire Governmentjobs.com, Inc., a leading provider of compliance software for U.S. public sector agencies, for over $3 billion, including debt. The acquisition is expected to be completed by EQT X, EQT AB, and CPP Investments. This deal marks EQT's latest move in the software industry, following previous acquisitions in the sector [3].

The transaction follows EQT's recent acquisition of Neogov, a human resources software provider, for more than $3 billion, including debt. Neogov serves nearly 10,000 public sector organizations across North America with its cloud-native suite supporting the complete employee lifecycle [1]. The acquisition of Governmentjobs.com, Inc. is part of EQT's strategy to expand its portfolio in the software industry.

Warburg Pincus and Carlyle, the majority and minority owners of Neogov, respectively, have fully exited their investments as part of the sale to EQT. This exit aligns with private equity's standard investment lifecycle, where firms acquire, grow, and eventually divest portfolio companies [1].

The acquisition of Governmentjobs.com, Inc. is expected to be completed by EQT X, EQT AB, and CPP Investments. The financial terms of the deal were not disclosed, but the transaction is likely to contribute positively to Carlyle's realized returns, given the firm's diverse holdings [3].

References:
[1] https://www.reuters.com/legal/transactional/eqt-acquire-software-provider-neogov-more-than-3-billion-sources-say-2025-07-28/
[2] https://www.marketbeat.com/instant-alerts/filing-eqt-corporation-nyseeqt-position-increased-by-allianz-asset-management-gmbh-2025-07-27/
[3] https://www.stocktitan.net/news/CG/warburg-pincus-and-carlyle-announce-agreement-to-sell-neogov-to-eqt-dp06zuvcxwxg.html