UpGrad Education has acquired online learning platform Harappa Learning in a multistage transaction aggregating to ₹300 crores.
Cyril Amarchand Mangaldas advised Harappa and its founders, Pramath Raj Sinha and Shreyasi Singh on the transaction assisted with reviewing, negotiating, and finalizing the transaction documents.
The transaction team was led by Ritika Rathi (Partner), with support from Sreetama Sen (Principal Associate), Nooreen Haider, (Senior Associate), Bhadra Nair (Associate) and Shubhi Agrawal (Associate).
Gyanendra Kumar (Partner) supported the team on merger structuring related advisory
The employee stock options related advisory, and documentation was undertaken by Bharath Reddy (Partner), Srishti Aishwarya (Principal Associate), and Sudipta Lenka (Associate).
The Employment related advisory was undertaken by Rashmi Pradeep (Partner), Ankita Sharma (Senior Associate) and Anushka Dua (Associate).
Tax related advisory was undertaken by S.R. Patnaik (Partner) (Head -Taxation) and Shivam Garg (Senior Associate).
The privacy law related advisory was undertaken by Anirban Mohapatra, (Partner).
Khaitan & Co acted for UpGrad. The core team consisted of Monika Srivastava (Partner), Sanchit Agarwal (Partner), Nikita Bhuwania (Principal Associate), Prerna Kapur (Associate) with assistance from the following:
Assisted in the Intellectual Property Law aspects: Sourav Dan (Principal Associate), Rhea Ghanshani (Associate).
Assisted in the Employment Law aspects: Abhimanyu Pal (Principal Associate), Kruthi Murthy (Senior Associate).
Assisted in the legal due diligence of the Target: Jubin Jay (Associate), Manikya Manaswini (Associate), Shubhang Upadhyay (Associate).
As a part of the Transaction, UpGrad is to acquire the stake by way of a share purchase from the founders of Harappa, and a share swap with the majority shareholder of Harappa, Bodhi Tree Systems VCC. Post first closing of the transaction, Harappa will be merged into and with upGrad.