i3 Verticals, Inc. has acquired a leading provider of enterprise software solutions for the motor carrier and motor vehicle markets in the United States and Canada for ₹686.5 crore, with effect from October 1, 2022.
DSK Legal assisted i3 in the Indian leg of the acquisition on all legal aspects of the transaction, including conducting due diligence, reviewing, negotiating, finalising the transaction documents and providing assistance for closing and post-closing requirements.
The transaction team comprised Harvinder Singh (Partner), Shruti Dogra (Principal Associate), Manhar Gulani (Senior Associate) and Nida Negi (Associate).
Aparajit Bhattacharya (Partner) acted as the lead engagement partner for i3 on this transaction.
The due diligence team included Shruti Dogra (Principal Associate), Manhar Gulani (Senior Associate), Archit Gupta (Associate), Nida Negi (Associate), and Vaishnavi Srivastava (Associate).
Frost Brown Todd LLC acted as the foreign counsel and advised i3 on the laws of the Unites States.
Khaitan & Co represented the sellers on the transaction as the Indian counsel.
Spencer Fane LLP represented the sellers on the transaction as the foreign counsel.
This is i3’s second largest acquisition to date.
i3 is a NASDAQ listed company which delivers seamless integrated payment and software solutions to customers and end users in strategic vertical markets. Building on its sophisticated and diverse platform of software solutions, i3 creates and acquires software products to serve the specific needs of public and private organizations in its strategic verticals that include Public Sector, Healthcare and Education, among others.