Induslaw has acted as sole advisor to education provider Educomp Solutions, which acquired Studyplaces.com from Zaptive Internet Services.

Induslaw Delhi partner Avimukt Dar and senior associate Masana Panmei advised the buyer.

No other law firms were involved, explained Dar and added that the sellers used its in-house counsel and financial advisers throughout the review process, while Induslaw drafted the documentation.

The acquisition value was reported to have been only up to $1.5m, as the target company had run out of cash.

http://www.vccircle.com/500/news/educomp-to-acquire-venture-backed-studyplaces-for-a-song