TOKYO (March 30): Singapore's GIC will jointly acquire Works Human Intelligence, a human-resources (HR) software provider in Japan, for US$2.6 billion (RM11.5 billion), Japan's Nikkei business daily reported on Thursday (March 30).

Sovereign wealth fund GIC will acquire about half of Works Human's shares, the newspaper said, with the rest held by Works Human executives and a new fund to be established by Bain Capital.

This suggests that GIC will be teaming up with Bain and Works Human's management.

The newspaper said this may be the biggest acquisition by GIC.

Works Human is a spin-off of the former Works Applications, a developer of enterprise software, which sold its HR management division to Bain for ¥100 billion (RM3.34 billion) in 2019, the Nikkei said.