Kirkland & Ellis with Khaitan & Co have acted for private equity firm Apax Partners in its $420m purchase of California-headquartered offshore software services provider GlobalLogic.

Khaitan partners Haigreve Khaitan and Aakash Choubey acted for Apax, assisted by competition law partner Avaantika Kakkar and direct tax partner Bijal Ajinkya, according to a press release from the firm.

Kirkland & Ellis and KPMG provided accounting and tax advice to Apax respectively, according to an Apax press release, while the US offices of Hogan Lovells acted for GlobalLogic.

Existing investors in GlobalLogic were venture capitalists (VCs) New Enterprise Associates, Sequoia Capital, Westbridge Capital, Goldman Sachs and New Atlantic Ventures, who could have bagged a 5x return, according to the Times of India, making it this year’s biggest VC exit.

GlobalLogic, which was founded by several alumni of the elite Indian institutes of technology, is headquartered in California but has service centres in India, Ukraine and Argentina.