TPG Capital LP and Warburg Pincus are in early talks to buy a stake in Sirion Labs Pvt., a Partners Group Holding AG-backed software business managing and automating contracts, according to people familiar with the matter.

The private equity firms are evaluating a majority stake that’s set to exceed $500 million in value, the people said, requesting not to be named because the discussions are private. Deliberations are ongoing and other investors could participate, the people added.

TPG and Warburg declined to comment, and Sirion Labs didn’t respond.

The transaction highlights investor interest in artificial intelligence-based digital businesses that automate processes and reduce employee time spent on procedural tasks.

Sirion Labs was founded in New Delhi in 2012 but later moved its h

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