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Investcorp buys majority stake in Revature, a Virginia-based staffing and training provider

February 11, 2019

Private equity firm Investcorp acquired a controlling stake in Revature, an IT training and staffing firm based in Reston, Va. Revature’s founders remain as shareholders.

The transaction closed Feb. 1; terms were not disclosed. Ashwin Bharath remains as Revature’s CEO; President Justin Vianello and COO Joe Mitchell will also stay in their current roles.

Revature puts recent college graduates — those who are US citizens with four-year degrees in computer science or another STEM major — through 12-week immersive training programs and then contracts them out to clients. Training covers subjects such as Java full stack, .NET full stack or data technologies. The program was profiled last year in a Staffing Industry Review article.

“It has been an honor to support the development and rapid growth of Revature's pioneering Employer-Pay model for Last-Mile Training,” said Ryan Craig, managing director of University Ventures, which exited its investment. “By eliminating education friction for candidates and hiring friction for employers, Revature demonstrates the revolutionary potential for frictionless pathways to employment to close America's skills gap.”

This article has been corrected from a previous version.

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