Published by Global Banking & Finance Review®
Posted on July 28, 2025
2 min readLast updated: January 22, 2026
EQT will acquire Neogov for over $3 billion, with Warburg Pincus and Carlyle exiting. Neogov provides HR software for public sector firms.
By Milana Vinn
NEW YORK (Reuters) -Investment firm EQT has agreed to acquire Neogov from its private equity owners, valuing the human resources software provider at more than $3 billion including debt, three people familiar with the matter said on Monday.
Warburg Pincus, the majority owner of Neogov, and Carlyle, which owns about a third of the company, will fully exit their investment as part of the sale to EQT, the sources said, speaking on condition of anonymity ahead of a formal announcement expected in the next few days.
Warburg Pincus and Carlyle declined to comment. Neogov did not immediately respond to a request for comment.
El Segundo, California-backed Neogov provides software which helps public sector companies manage human resources tasks including recruitment and managing employees.
Neogov was originally founded in 2000, with Warburg Pincus first investing the company in 2016 and Carlyle becoming a minority investor in 2021.
Private equity deal-making has seen something of a revival in recent weeks, after a subdued second quarter when companies and investors were navigating market volatility associated with U.S. President Donald Trump's trade war.
Warburg Pincus' expected exit from Neogov comes after it struck a deal to sell its majority stake in cybersecurity software maker A-lign to investment firm Hg earlier this month.
(Reporting by Milana Vinn in New York; Additional Reporting by Isla Binnie; Editing by Louise Heavens, Kirsten Donovan)
EQT has agreed to acquire Neogov for more than $3 billion, including debt.
Neogov is currently owned by Warburg Pincus and Carlyle, with Warburg Pincus being the majority owner.
Neogov provides human resources software that helps public sector companies manage tasks such as recruitment and employee management.
Neogov was originally founded in 2000.
Private equity deal-making has seen a revival in recent weeks after a subdued second quarter due to market volatility.
Explore more articles in the Finance category
