Private equity firm Warburg Pincus has bought a majority stake in Dubai-based technology company Mercator, as buyout firms continue to push into the technology sector, which last year saw the highest level of private equity deals in seven years.

US-based Warburg, which has over $37 billion in assets under management, has agreed to buy a majority stake in the company from Emirates Group subsidiary dnata, according to a statement from the firm today. Dnata will remain as a minority shareholder. Financial details of the deal were not disclosed.