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Khaitan & Co’s Indian software client gobbles US company for $66m

Listed Indian software services company Zensar Technologies has bought Dutch-American software company Akibia for $66m, advised by Khaitan & Co and US firms Greenberg Traurig and Stahl Cowen Crowley Addis.

Khaitan & Co Mumbai partner Rabindra Jhunjhunwala acted as Indian legal adviser to Zensar India and Zensar USA.

Stahl Cowen Crowley Addis was US Counsel to the Indian buyer’s subsidiary Zensar USA, while Greenberg Traurig advised the target PSI Holding Group on US laws.

Zensar USA and PSI Holding Inc, USA, which owned the Akibia companies, entered into a definitive agreement for the sale all outstanding stock of Akibia.

As part of the integration of the two companies, Akibia will become part of the new business unit within Zensar. Over three hundred associates will be integrated into Zensar’s global delivery model in an attempt to enhance service offerings to both companies’ customers.

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