3i Infotech’s Sale of Software Products

3i Infotech's Sale of Software Products

Khaitan & Co advised 3i Infotech Limited, while Kirkland & Ellis acted for funds advised by Apax Partners on the deal.

3i Infotech Limited, a global information technology company, signed an agreements to sell its Software Products business (across India, USA, UK, UAE, Malaysia, Singapore, Thailand, Saudi Arabia and Kenya) to funds advised by Apax Partners, for a total consideration of INR 10 billion (Rs. 1,000 crores). The Software Products business will be acquired by a newly formed company named Azentio Software, wholly owned by the Apax Funds.

3i Infotech Limited provides a range of information technology solutions to companies worldwide. The Company primarily serves companies in the banking, insurance, and financial services industries.

Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of approximately $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer.

The Khaitan & Co. team comprised of Partner Aravind Venugopal (Picture), Niren Patel (Partner), Preethika D. (Senior Associate) and Arshia Saraf (Associate). Kumar Saurabh Singh (Partner), Rahul Chakraborti (Principal Associate), Karishma Singh (Associate), Deboshree Mukherjee (Associate) assisted the core team on certain financing aspects. Vinita Krishnan (Partner), Sanket Shah (Principal Associate) and Milind Hasrajani (Associate) assisted the core team on certain direct tax aspects. Rashmi Deshpande (Partner), Anjali Krishnan (Senior Associate) and Abhishek Naik (Associate) assisted the core team on certain indirect tax aspects. Nishad Nadkarni (Partner) assisted the core team on certain intellectual property aspects. Arindam Ghosh (Partner), Moin Ladha (Partner) and Anvita Mishra (Senior Associate) assisted the core team on certain regulatory aspects. Anshul Prakash (Partner), Abhimanyu Pal (Senior Associate), and Abhisek Choudhury (Associate) assisted the core team on certain employment aspects.

The Kirkland team was led by transactional partners Daniel Dusek, Michael Rackham and Srinivas Kaushik, technology & IP transactions partner Matthew Lovell, and tax partners Mike Carew and Lane Morgan.

Involved fees earner: Rahul Chakraborti – Khaitan & Co.; Abhisek Choudhury – Khaitan & Co.; Rashmi Deshpande – Khaitan & Co.; Arindam Ghosh – Khaitan & Co.; Milind Hasrajani – Khaitan & Co.; Vinita Krishnan – Khaitan & Co.; Anjali Krishnan – Khaitan & Co.; Moin Ladha – Khaitan & Co.; Anvita Mishra – Khaitan & Co.; Deboshree Mukherjee – Khaitan & Co.; Nishad Nadkarni – Khaitan & Co.; Abhishek Naik – Khaitan & Co.; Abhimanyu Pal – Khaitan & Co.; Niren Patel – Khaitan & Co.; Anshul Prakash – Khaitan & Co.; Arshia Saraf – Khaitan & Co.; Kumar Saurabh Singh – Khaitan & Co.; Sanket Shah – Khaitan & Co.; Karishma Singh – Khaitan & Co.; Aravind Venugopal – Khaitan & Co.; Mike Carew – Kirkland & Ellis; Daniel Dusek – Kirkland & Ellis; Srinivas Kaushik – Kirkland & Ellis; Matthew Lovell – Kirkland & Ellis; Lane Morgan – Kirkland & Ellis; Michael Rackham – Kirkland & Ellis;

Law Firms: Khaitan & Co.; Kirkland & Ellis;

Clients: 3i Infotech Limited; Apax Partners;

Author: Ambrogio Visconti