Bain Capital is reportedly exploring the sale of Rocket Software, a US-based automation software provider, with a potential valuation of up to $10 billion, including debt. This consideration comes as companies increasingly invest in technology to modernize legacy systems and enhance operational efficiency, driven by a surge in artificial intelligence adoption. Gartner forecasts a nearly 10% rise in global IT spending this year, reaching $5.61 trillion.

To facilitate the sale, Bain has enlisted financial advisors Moelis & Co and RBC Capital, with the process expected to begin in the coming weeks. Sources familiar with the situation, who spoke on condition of anonymity, indicated that the anticipated deal could value Rocket between $8 billion and $10 billion. Given Rocket's size, interest from other private equity firms is expected, with some possibly looking to collaborate on the acquisition.

Rocket Software is aiming for a valuation that exceeds 10 times its annual earnings before interest, taxes, depreciation, and amortization (EBITDA), which is approximately $800 million. However, discussions are still in the early stages, and a finalized deal is not assured.

Bain Capital, along with Moelis and Rocket Software, declined to comment on the matter, while RBC Capital did not respond immediately. Bain Capital initially invested in Rocket Software in 2018, valuing the company at $2 billion. Since then, Rocket has grown through several acquisitions, including a significant $2.3 billion purchase of OpenText’s software modernization business last year.