A&O Shearman Acted For Nidar Infrastructure In SPAC Merger With Cartica Acquisition Corp

A&O Shearman Acted For Nidar Infrastructure In SPAC Merger With Cartica Acquisition Corp

A&O Shearman advised Nidar Infrastructure Ltd, a data center focused on artificial intelligence, in its agreement to merge with Cartica Acquisition Corp. The transaction values Nidar at USD2.75 billion. The agreement stipulates that a wholly-owned subsidiary of Nidar will merge with Cartica, with Cartica surviving the merger as a wholly-owned subsidiary of Nidar. Following this, Cartica will merge with Nidar, which will then become the publicly listed company. The transaction was announced on June 24.

A leading provider of data center services for artificial intelligence in India, Nidar offers advanced information technology infrastructure and solutions on an "as-a-Service" basis to a global clientele that includes enterprises, governments, startups, and hyper-scalers.

The A&O Shearman team that represented Nidar was led by M&A Partners Alain Dermarkar and Bobby Cardone, and included M&A Associates Theodora Volsky, Emily Greenwood and Jake Lortz.