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Vaish sells Infospectrum business to Persistent

Vaish Associates has advised Pune-based Infospectrum on the sale of its outsourced product development (OPD) business to Persistent Systems, advised in-house by its company secretary and legal head.

Vaish Associates Delhi-based corporate partner Satwinder Singh led the team consisting of principal associate Rupa Radhakrishnan and associate Shagun Bhargava for the Indian subsidiary of US-based Infospectrum.

Persistent was represented by its group’s company secretary and head-legal Vivek Sadhle on the transaction.

Singh, who along with his team finalised the business purchase agreement and structuring, said: “The deal will be implemented along with transition of employees and certain customers within a month subject to fulfilment of certain conditions to closing of the deal.”

The deal involved a definitive agreement to acquire the OPD business of the seller company for an undisclosed amount in a bid to augment business opportunities in Europe, according to newspaper reports.

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