Noida-based listed publishing technology and services company, MPS has entered into a definitive agreement to acquire the e-learning business of Tata Industries, Tata Interactive Systems India along with its wholly-owned Swiss and German subsidiaries, Tata Interactive Systems AG and Tata Interactive Systems GmbH, for an estimated Rs 80 crores (around $12.3m), reported VC Circle and Times of India. The transaction is expected to close by the end of the first quarter in June, 2018.
J Sagar Associates (JSA) acted as the Indian legal advisors to
Squire Patton Boggs advised
Wadia Ghandy acted as the Indian legal advisors for the Tata Industries subsidiary,
German law firm Hengeler Mueller represented
A Mumbai-based team of Ernst and Young assisted MPS, whereas Avendus Capital advised Tata Industries on the financial aspects of the transaction.
Founded in 199I, Tata Interactiive Systems is engaged in the business of providing e-learning products and services and consulting services in relation to e-learning to corporates, governments and educational institutions, having deep relationships with over seventy Fortune 500 companies and has been recognized as a leader with more than hundred global awards over the years through expert capabilities and quality delivery. The current acquisition is considered to be a strategic entry for MPS into the enterprise learning solutions after the initial entry through Magplus, a digital platform that creates and distributes content to mobile apps, for an undisclosed amount, in 2016.
2018-04-24
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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