Toronto-based IT firm Adastra sold to global investment firm Carlyle Group

Co-founder and co-chairman of the private equity firm The Carlyle Group David Rubenstein speaks in the panel "The Global Economic Outlook" on the last day of the forum's Annual Meeting in Davos, Switzerland, Friday, Jan. 19, 2024. (AP Photo/Markus Schreiber)

TORONTO — IT company Adastra Group SE says global investment firm Carlyle Group Inc. has agreed to acquire a majority stake in the company.

Adastra, which is co-headquartered in Toronto and Prague, Czech Republic, says it has more than 2,000 employees across several market-facing and global delivery centres.

Terms of the agreement were not released.

Carlyle says it has a track record of investing in and scaling up leading IT services companies globally.

Adastra says Carlyle will aim to grow its data, cloud and AI offerings, supporting existing and new customers, as well as expanding its international presence through organic investments and targeted mergers and acquisitions.

Adastra chief executive Rob Turner calls it an “exciting and transformative step” for the company, saying he believes Carlyle’s “deep experience and global network” can help unlock a new phase of growth for the business.

This report by The Canadian Press was first published July 22, 2025.