Lakshmikumaran & Sridharan accomplishes another cross-border transaction
Lakshmikumaran & Sridharan accomplishes another cross-border transaction
The law firm advised the Singapore-based firm
Indian law firm Lakshmikumaran & Sridharan has advised Belgacom International Carrier Services Asia Pte Ltd (BICS), Singapore, a subsidiary of the international communications enabler BICS. This was in relation to its acquisition of a 100 percent stake of 3m Digital Networks Private Limited (MOBtexting), India, for an undisclosed amount.
This strategic acquisition will accelerate BICS' strategy to become a communications platform company, incorporating MOBtexting's suite of cloud-based omnichannel communications services and its platform into its value proposition.
LKS supported BICS with end-to-end transaction advisory for the acquisition process, along with a legal due-diligence including employment, intellectual property and data-protection due-diligence. The firm also assisted in deal structuring and drafting and finalization of the transaction documents.
Gaurav Dayal (partner) along with Swasti Ray (senior associate), Kartik Chatrath (associate) and Amrusha Monga (associate) led the LKS transactions team. They were supported by partners Kunal Arora (legal due diligence), Noorul Hassan (employment-related aspects and diligence) and Vindhya S (IP-related aspects and diligence).
Speaking on the achievement, Dayal said, "Being a cross-border transaction, there were numerous critical aspects to be considered and dealt with. So, we brought together our expertise in domains such as IT/ITeS, employment, IP and data protection to enable BICS to go ahead with the transaction."
In addition to LKS, PwC India advised BICS on the financial and tax aspects while Burgeon Law advised MOBtexting and the sellers.
About Lakshmikumaran & Sridharan
It is a premier full-service Indian law firm specializing in areas including corporate and mergers and acquisitions, private equity, dispute resolution, taxation and intellectual property. Through its 14 offices across India, the firm works closely on litigation and commercial law matters, advising and representing clients in India and abroad.
LKS has handled over 30,000 litigation cases before various forums including 2,000 cases before the Supreme Court of India. Over the last 37 years, the firm has worked with over 15,500 clients ranging from start-ups, small & medium enterprises, to large Indian corporates and multinational companies.
The professionals within the firm bring diverse experience to service clients across sectors such as commodities, automobile, manufacturing, healthcare, information technology, information technology-enabled services, fast-moving consumer goods, hospitality, real estate, petrochemicals, e-commerce, fintech, big data, renewables, cryptocurrency, gaming and sports.
