Bain Capital, the Boston-based private equity firm cofounded by Mitt Romney, has agreed to buy a majority stake in Waltham’s Rocket Software in a deal with an enterprise value of $2 billion.
Terms of the investment in the business software company were not disclosed. Rocket, which has about 1,500 employees and had revenue of about $450 million last year, is currently owned by Court Square Capital Partners of New York.
Rocket was founded in 1990. It will continue to be run by chief executive Andy Youniss. About a third of its employees are in Waltham.
Bain Capital has a long history of investing in tech companies, including BMC Software, SunGuard Data Systems, and Symantec. The firm, founded in 1984 by Romney and other partners at consulting firm Bain & Co., oversees $105 billion in assets. Steve Pagliuca, co-chair of Bain Capital and co-owner of the Boston Celtics, is the head of the firm’s investing in technology, media, telecommunications, and financial services.