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Khaitan on 3i Infotech’s $136m acquisition by Apax Partners on PE’s first India software buyout

Apax Partners has agreed to buy the software business of listed IT services company for ₹1,000 crore, in what would be the first PE buyout of an Indian software company. The software business that generates $60 million in revenues will be carved out of the main company through a business transfer agreement or slump sale. The listed company will continue owning the services business that generates $100 million in revenues.

The Economic Times

Private equity firm Apax Partners has inked an agreement to acquire the software products business of 3i Infotech Ltd for Rs 1,000 crore ($136 million), sealing its first India deal in almost two years.

VC Circle

Khaitan & Co advised 3i Infotech led by their core team comprising, partners Aravind Venugopal and Niren Patel, senior associate Preethika D and associate Arshia Saraf. Also involved: partner Kumar Saurabh Singh, principal associate Rahul Chakraborti, associate Karishma Singh, associate Deboshree Mukherjee assisted the core team on certain financing aspects. The direct tax team consisted of partner Vinita Krishnan, principal associate Sanket Shah and associate Milind Hasrajani along with their indirect tax team led by partner Rashmi Deshpande, senior associate Anjali Krishnan and associate Abhishek Naik. The IP aspects of the transaction were handled by partner Nishad Nadkarni, while the regulatory aspects were handled by partner Arindam Ghosh, partner Moin Ladha and senior associate Anvita Mishra; partner Anshul Prakash, senior associate Abhimanyu Pal, and associate Abhisek Choudhury assisted the core team on certain employment aspects involved in the deal.


Deal value: INR 1000 crores (USD 136 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.

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