Nash Squared and PAG, an Asia-Pacific-focused investment firm, jointly announced that PAG acquired 100% of NashTech from Nash Squared, effective 23 December 2024.

Financial terms of the transaction were not disclosed.

Established in 2000, NashTech is an IT services outsourcing company headquartered in London with global operations and delivery capabilities primarily in Vietnam, India and Central America.

NashTech provides custom software development, managed services, digital business process and technology advisory services for a range of enterprise customers and independent software vendors across a wide spectrum of industries, including insurance, higher education, retail, logistics and supply chain management.

The company specialises in systems of innovation and differentiation delivered by a specialised team of over 2,000 engineers and technologists from its five delivery centres.

Nash Squared said the divestment of NashTech allows it to concentrate on its plans for growth and innovation, including a significant investment in its technology, AI capabilities and operational delivery, and to double down on its commitment to helping organisations build the technology teams they need to thrive.

Nash Squared will continue to be the overall brand operator for five talent businesses: Harvey Nash, Flexhuis, Crimson, Spinks and Talent-IT.

“Our strategy has always been one of growth and opportunity — for our company and our people,” Nash Squared CEO Bev White said in a press release. “We are very proud of how we established and grew the NashTech business and see its separation as a natural next step for everyone. For Nash Squared, that means investing in what we are unique and famous for, our tech talent solutions brands, led by Harvey Nash. And for NashTech, that means focusing on growing its fantastic brand in the technology solutions space.”

John O’Brien, CEO of NashTech, “We welcome PAG as our new partner with a shared mission: to create the best solutions powered by excellence in people and technology. I would also like to extend our gratitude to Nash Squared for their invaluable investment in our people, culture and technology. Their leadership has set a strong foundation for the company’s next stage of growth. Together with PAG, we look forward to embracing new opportunities, bringing best-in-class solutions to our customers.”

“We are excited to partner with the management team at NashTech, who share our vision to expand the business,” Lincoln Pan, PAG’s partner and co-head of Private Equity, said. “We believe NashTech’s deep and qualified talent pool, its focus on delivery quality and its strong culture of employee engagement positions it well to capitalise on the global growth of IT services solutions. This strategic investment will enable NashTech to grow its business not only in its core UK and US markets but also to other regions including Asia Pacific.”