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JSA, CAM, AZB lead on Conneqt acquisition of Allsec Technologies
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JSA, CAM, AZB lead on Conneqt acquisition of Allsec Technologies

Bar & Bench

Quess Corp’s Conneqt Business Solutions unit is acquiring a majority stake in Allsec Technologies. The transaction is valued at approximately Rs. 271 crores.

Conneqt will buy 35.35% of the company from the promoters and 26% from First Carlyle Ventures Mauritius, taking its holding in the company to 61.35%. Under SEBI guidelines, Quess will make an open offer to shareholders of Allsec to purchase upto 26% of the company.

J. Sagar Associates acted for Conneqt Business Solutions and the team was led by Partners Raj Ramachandran, Vikram Raghani and Anand Lakra along with Principal Associate Rakki K, Senior Associates Sindhu Nayak and Abhilash Chandran, Associates Ami Shah and Khamir Kamdar.

Cyril Amarchand Mangaldas advised the Promoters and the team was led by Partners Arjun Lall and Reeba Chacko.

AZB & Partners acted for Carlyle with a team led by Senior Partner Ashwath Rau along with Partner Kashish Bhatia and Senior Associate Armaan Patkar.

Image taken from here.