“Quess Corp is acquiring majority stake in Chennai-headquartered business solutions provider and listed enterprise Allsec Technologies in a transaction worth around Rs 270 crore. The deal, undertaken through Quess’ subsidiary Conneqt Business Solutions, will see Conneqt purchasing 35.35% holding from Allsec’s promoters and 26% from First Carlyle Ventures Mauritius, thus giving Conneqt a 61.35% majority control,” reported The Times of India.

J Sagar Associates (JSA) advised Conneqt Business Solutions Limited along with Quess Corp Limited, led by a team of partners Vikram Raghani, Raj Ramachandran and Anand Lakra; principal associate Rakki K, senior associates Sindhu Nayak and Abhilash Chandran, and associates Ami Shah and Khamir Kamdar.

Cyril Amarchand Mangaldas advised the promoters R Jagadish and A Saravanan led by a team of partner Reeba Chacko, partner Arjun Lall, partner Akshay Bhatt, principal associate Saurav Samaddar, senior associate Rohit Tiwari.

Update 18 June 2020: AZB & Partners advised First Carlyle Ventures Mauritius led by a team of partners Ashwath Rau and Kashish Bhatia, and senior associate Armaan Patkar.

Allsec is an Indian company with subsidiaries in USA and Philippines which provides business process solutions across various industry verticals.

2019-04-17

Deal value: The overall deal size is USD 39 million

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.