AZB And Vaish advise on Mahindra Satyams acquisition of 16 stake in Dion Global

Mahindra Satyam Computer Services has acquired almost 16 per cent stake in Dion Global Solutions, which develops software products for capital markets for Rs. 35 crore ($7 million)..AZB & Partners advised Satyam with a team led by Partner Abhijit Joshi along with Associate Nilanjana Singh..Vaish Associates advised Dion Global with a team led by Partner Bomi Daruwala..Dion is majority-owned by Malvinder and Shivinder Singh, promoters of financial services firm Religare Enterprises and healthcare firm Fortis..According to the VCCircle, under the agreement, Mahindra Satyam is acquiring fresh shares of Dion Global while the promoters are putting in a similar amount through a preferential allotment, to restrict equity dilution. The proceeds from the investment will be used by Dion Global to further enhance its offerings and geographic reach, according to a company statement..Dion Global provides software solutions to financial institutions in the Asia-Pacific, Europe, North America and the Middle East. The company offers trading products, including online trading tools, order routing, execution and market data dissemination. The Noida-headquartered company claims to have more than 660 clients in 62 countries.