SAM acts doubly on blockbuster $300m Byju buy of code academy Whitehat Jr with Nishith Desai

Tuesday, 11 August 2020 By Legally India Corporate M&A

Think and Learn which owns and operates education technology platform Byju’s — The Learning App — has acquired Mumbai-based WhiteHat Jr in a $300 million all-cash transaction… WhiteHat Jr, founded in 2018 by Karan Bajaj, the former CEO of Discovery Networks India, operates in the K-12 segment, teaching students to code and helping them build commercial-ready games, animations and apps, using the fundamentals of coding.

— The Economic Times

Nishith Desai Associates acted as India legal counsel to Nexus Ventures, Omidyar Network and Owl led by a team of lawyers Rajesh Simhan, Parag Srivastava, Anusha Reddy, Shipra Padhi and Ipsita Agarwalla.

Cooley LLP lawyer Rishab Kumar acted as international counsel to Owl Ventures.

Shardul Amarchand Mangaldas acted for Byju’s led by Bangalore partners Roshan Thomas and Abhay Sharma and a team comprising of lawyers Alekhya Donepudi, Ankita Misra, Someny Singhal and Priyanka Jain.

Shardul Amarchand Mangaldas also acted for Whitehat Jr and its founder, represented by led by Delhi-based partner Harsh Kumar and lawyer Shambhawi Mishra.

2020-08-07

Deal value: USD 300 million

{incomplete}

Nishith Desai Associates Shardul Amarchand Mangaldas

Comments

Head/Leader/Co Head/Co 11 Aug 2020, 14:39

+14 -0

is it bcoz all the folks for NDA who worked on the transaction are 'leaders' that their designations have not been mentioned??

Utek 11 Aug 2020, 16:58

+15 -2

The Chinese Wall was built with Ultra tech cement

SAMundar 11 Aug 2020, 15:02

+10 -5

Conflict of Interest just died of a heart attack.

Whats 11 Aug 2020, 16:01

+0 -0

Conflict with?

Pasta 11 Aug 2020, 16:47

+4 -0

Are you joking?

Whats 11 Aug 2020, 19:27

+0 -1

Ok. Undestood. My bad.

Hitesh Sanghvi Mumbai 11 Aug 2020, 17:00

+9 -0

May be a non-issue when Byju, Whitehat JR and its promoter(s) have given their prior consent. Thank you

SAM Strikes! 11 Aug 2020, 19:48

+2 -0

Thank you

Guest 11 Aug 2020, 21:43

+6 -1

Parag is the boss!

When 15 Aug 2020, 06:13

Just noticed this today - Parag is for NDA. Didnt he move to SAM couple of years back? What happened?

I was in SAM back then, working opposite him on a matter - and then suddenly one day we are colleagues :)

NDA 15 Aug 2020, 17:53

It's been two years since he left SAM to come back to NDA.

East-WestOkhla-thebest 12 Aug 2020, 06:06

+9 -6

LOL, look at some of the jealous comments. While the concerns of conflict of interest are not totally invalid, the fact that both parties, despite knowing the other to be represented by the same firm, reposed their trust in the firm to look out for their respective best interests, speaks volumes of how there is no conflict of interest. How many other firms have been in this position in the past (including other firms which are supposedly "ahead of the curve")?

KCO 12 Aug 2020, 07:57

+3 -1

Conflict .. what's that??

All Go 12 Aug 2020, 09:15

+8 -0

At least both the SAM team were based out of different offices, unlike some other firm where the people sitting on opposite desk were representing the Company and incoming investors respectively.

Vertices 111 12 Aug 2020, 12:24

+0 -26

East or West vertices is the best. Stellar performance by vertices to close this deal .

Thooooo 13 Aug 2020, 12:10

+29 -0

Funny to see vertices also show up to someone else's party as a vendor

Vertices 111 14 Aug 2020, 21:50

+0 -25

Do you the status of vertices before commenting. It's the fastest growing law firm

Guest 15 Aug 2020, 04:32

+31 -0

Did it take its daily dose of Complan?

Thooooo 15 Aug 2020, 07:22

+15 -1

Ok. I will surely "do you the status". You are certainly doing it :)

Vertices 111 15 Aug 2020, 20:38

+0 -28

It's a new age firm. In next 5 years, it will be as big as trilegal. The founders are best in business. Time will tell

Guest 16 Aug 2020, 04:16

+25 -0

Then wait for time to do the telling before you start making unfounded claims.

Alias 23 Aug 2020, 06:24

+0 -11

Vertices has fastest growing entrepreneurs.

Amit bacchan 23 Aug 2020, 19:38

+0 -13

No denying this fact ! Best founders of the industry with oceans of experience of closing most sought after deals of India .

Bombay ka Bhai 29 Aug 2020, 08:21

+7 -2

Vertices is marketing this deal as if they led the deal. Read on their linkedin page that the managing partner provided strategic inputs in the VDD of 2 year old company. what are those "strategic inputs" on VDD?, heard of these nomenclatures for the first time.

I have heard that the firm is hiring. how is the work culture and pay?

TraderJoe 13 Aug 2020, 09:50

+0 -2

What would be approx. fee earned by each of these law firms in this transaction? Seems quite straight forward cash deal, still curious about amounts.

Experien 14 Aug 2020, 11:09

+4 -1

20 - 50 lacs, depending who was engaged for what. A smaller bracket could be 25-40 lacs.

Even 40 lacs is a lot for a law firm to charge for a pure play SPA - but cant comment what all work went in there (structuring, meetings, CP/ CS, closing, etc.). So 40 (even 50) may be justifiable.

TraderJoe 16 Aug 2020, 10:50

Thank you. Much appreciated.

Public Hai sab jaanti 8 Oct 2020, 19:17

Vertices must have charged close to 200,000 usd for vdd

yes 15 Aug 2020, 09:42

yes

yeah 18 Aug 2020, 07:10

yeah

Update 25 Aug 2020, 08:15

Have there been such few deals this year as your league table suggests?

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