Reliance Jio Digital Services’ $100 Million Acquisition of Haptik

Khaitan & Co advised Reliance Jio Digital Services Limited on the deal

Reliance Jio executed its $100 Million Acquisition of Haptik.

Reliance Jio Infocomm Limited provides wireless telecommunication services in India. The company has a strategic alliance with ZEE Entertainment Enterprises Ltd. to release ZEE’s content library on Jio’s platforms. The company was formerly known as Infotel Broadband Services Limited and changed its name to Reliance Jio Infocomm Limited in January 2013.

Haptik, Inc. provides a personal assistant application for users to get their service-related issues resolved by connecting them with experts from various enterprises.

With the investment, Haptik’s existing shareholder – Times Internet – will exit the company.

Khaitan & Co advised Reliance Jio Digital Services Limited with a team including Vivek Sriram (Picture), Supratim Chakraborty, Ashraya Rao, Suhana Islam Murshedd, Aastha Khurana, Aritri Roy Chowdhury, Rimjhim Khandelwal, Aman Dwivedi, Sarayu Satish, Amulya Sharma (M&A), Shabnam Shaikh and Agranee Kapoor (Employee stock ownership plan) Shailendra Bhandare and Sourav Dan (IP&IT).

Involved fees earner: Shailendra Bhandare – Khaitan & Co.; Supratim Chakraborty – Khaitan & Co.; Ashraya Rao – Khaitan & Co.; Shabnam Shaikh – Khaitan & Co.; Vivek Sriram – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Reliance Jio Infocomm Limited;

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Author: Michael Patrini