Investcorp, the Bahrain-based alternative investment manager, said one of its affiliates acquired a majority stake in the US technology company KSM Consulting from Renovus Capital Partners. Terms of the transaction were not disclosed and Renovus will continue to maintain a minority stake in the business. "The past year highlighted the importance of embracing technology for all organisations, regardless of size, sector or industry," Tarek AlMahjoub, head of UAE and Oman for Investcorp’s private wealth, said. KSMC’s people, values and culture set it apart in a "highly fragmented market, and we are excited to be partnering with them", he added. Founded in 2008, KSMC caters to more than 700 organisations. The company specialises in data analytics, smart solutions and digital transformation. The partnership will focus on the Indianapolis-headquartered company’s organic growth and expanding its footprint across the US, the Manama-listed company said in a statement. The tie-up will broaden KSMC’s service offerings and focus on the company completing recent strategic acquisitions of other US technology firms. Some of the recent purchases of KSMC, which has grown at an annual rate of more than 40 per cent in the past three years, include Colorado-based Tempus Nova, Ohio-based Advocate Solutions and Indianapolis-based Connect Think. "We believe Investcorp’s deep understanding of technology and the professional services industry makes it an ideal partner for KSMC’s next phase of growth," Mark Caswell, chief executive of KSMC, said. "Investcorp’s resources and expertise will enable us to continue expanding … [and] position us for accelerated growth. We are excited by the long-term benefits this partnership will unlock for our team, clients and communities," Mr Caswell added. With a presence in 12 countries across the US, Europe, GCC and Asia, Investcorp, which counts Abu Dhabi's Mubadala Investment Company as its biggest shareholder, had $35 billion in total assets under management at the end of last year. The company has been on an acquisition spree in recent months, expanding its technology portfolio by boosting its investment in software, data analytics, cyber security and FinTech companies. Last month, the company rolled out Investcorp <a href="https://www.thenationalnews.com/business/technology/investcorp-offers-new-fintech-investment-platform-1.1153757">iPartners </a>platform, a new FinTech offering that will allow investors to browse, assess and invest in private equity, real estate and other offerings. Earlier this month, Investcorp reported a <a href="https://www.thenationalnews.com/business/markets/investcorp-reports-33-jump-in-first-half-net-profit-1.1163435">33 per cent</a> jump in first-half net profit on the back of higher asset-based income. The company’s $1.4bn investment activity during the first half of its financial year was driven by two new private equity investments in the US and Europe and two add-on acquisitions, in addition to eight investments in businesses across Asia.