(Bloomberg) -- Horizon Capital has revived plans to sell technology services firm Sabio Group, according to people with knowledge of the matter said.
The private equity firm is working with HSBC Holdings Plc on the potential divestment of Sabio, which could be valued at £300 million to £400 million ($401 million to $535 million), the people said. Deliberations are ongoing and Horizon Capital could decide to keep the business for longer, said the people, who asked not to be identified as the information is private.
Founded in 1998, Sabio provides digital customer services such as virtual assistant, customer journey analytics and live chat integration, its website shows. It also offers other services such as cloud migration and cybersecurity. French utility company Engie SA and Swedish energy firm Vattenfall AB are among its clients.
UK-based Horizon Capital focuses on four sectors: technology services, software, data and analysis and business services, according to its website. The private equity firm invested in Sabio in 2016 and the technology services company has since completed at least 14 acquisitions. Horizon Capital tried to sell the business about two years ago but aborted the efforts later, the people said.
Representatives for HSBC and Sabio declined to comment, while Horizon Capital didn’t respond to requests for comment.
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