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P&A, ALMT advise on India leg of Virtusa Corp 140m buy of California-based eTouch Systems

Global provider of digital engineering and IT outsourcing services, Virtusa Corporation, has entered into an equity purchase agreement to acquire all outstanding shares of eTouch Systems Corporation, a Fremont, California-based digital web engineering technology services company, together with its Indian entity eTouch India in two separate transactions, for approximately $140m in cash, subject to certain adjustments, as reported by The Financial Times and as per the press release by Virtusa.

The P&A Law Offices team acted as the legal counsel for eTouch and its promoters in both the India and US transactions, and was led by managing partner Anand S Pathak, who also was the princial US counsel to eTouch, principal associate Shashank Gautam, senior associate Aditya Singha, and associate Siddhartha Srivastava.

ALMT Legal acted as the Indian legal advisors for Virtusa Corporation, and was led by partner Rajat Bopaiah along with assistance from Bangalore office partners Souvik Paul Mazumdar and Arindam Basu.

Goodwin Procter represented as the US legal counsel Virtusa Corporation.

Citi acted as the financial advisor to eTouch on the transaction.

Founded in 1996 and headquartered in Massachusetts, Virtusa operates in North America, Europe, and Asia and provides end-to-end digital transformation and information technology outsourcing services to Global 2000 companies using a combination of digital engineering services to create distinctive digital storefronts, and a unique platforming methodology to rationalize IT application infrastructure. The press release also stated that the current acquisition of eTouch is expected to help Virtusa by expanding their digital engineering expertise and broaden its digital service offerings by establishing a strong innovation hub in the heart of Silicon Valley and allowing them better to address the needs of both fast-growing tech companies and global enterprises.

Primary jurisdiction of deal: US

2018-03-12

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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