Khaitan & Co is acting for Nasdaq-listed iGate Corp, which is being acquired by French IT consultancy Cap Gemini for $4bn.
Khaitan Mumbai partner Rabindra Jhunjhunwala confirmed that Khaitan had been instructed by iGate but declined to comment further.
UPDATE: Luthra senior partner Mohit Saraf acted for Capgemini, as reported by Bar and Bench.
The deal will create a global technology giant worth $12.5bn with 190,000 employees, reported Mint, with around 75 per cent’s of iGate’s 33,000 employees based in India, according to Reuters.
iGate had bought Patni Computer Systems in 2011 for $1.22bn, on which AZB & Partners and J Sagar Associates (JSA) had bagged the roles for the target, and with Khaitan & Co advising iGate alongisde nine other law firms.
iGate’s founders, Ashok Trivedi and Sunil Wadhwani, are together set to pocket more than $1bn from the sale.
We were unable to confirm which other law firms are involved in this deal at the time of going to press. If you know, please do share in the comments and we’ll confirm.
Comments
JSA?
Haters gonna hate. Ha.
When a firm is 'deliberately sharing' internal promotions after we and readers ask for those figures (and when we also publish JSA's), and if a firm confirms when we ask it whether they're acting for iGate, then that's not called a 'publicity stunt' but it's called transparency.
And say what you will about Khaitan, compared to many other firms they are relatively transparent in the way they operate, which by definition will mean that certain things they disclose will get covered by media.
who.....?!?!
Khaitan certainly has one of the strongest PR & marketing functions at any large firm, and their press releases go far and wide.
Other than that, maybe we're the only legal media actually asking the tough questions, and Khaitan is one of the few to answer?
Take salaries - until a few years ago, there was not a single firm that would disclose starting salaries. For our first starting salary survey we had to jump through hoops and piece salaries together via detective work.
Now, fortunately, possibly more than 50% of firms are somewhat transparent about salaries if requested (though some, of course, aren't, such as AZB Mumbai or Luthra, out of the top 6).
Same goes for senior and principal associate promos - a lot of other firms, I know, would guard their associate promotion lists with their life...