LONDON (Reuters) - British IT services group Redcentric is working with a financial adviser on an attempt to sell the company, two people familiar with the matter told Reuters.

Redcentric, with a market value of 208 million pounds ($264.64 million), has lined up investment bank Lazard to sound out buyers for the business, the people said, speaking on condition of anonymity.

The mandate was awarded in January, one of the people added.

Several private equity funds with similar assets in the space have explored the opportunity of buying Redcentric in recent months, the people said.

Redcentric did not respond to a request for comment and Lazard declined to comment.

($1 = 0.7860 pounds)

(Reporting by Amy-Jo Crowley. Editing by Anousha Sakoui and Louise Heavens)

By Amy-Jo Crowley