Shardul Amarchand Mangaldas & Co (SAM) and Fox & Mandal advised on Info-Tech Research Group’s acquisition of Zluri
Info-Tech Research Group, Canada, acquired 100% of the share capital of Zluri Technologies Private Limited (Zluri), a SaaS management and identity governance platform, together with Zluri Inc., its wholly owned US subsidiary. The transaction involved 32 sellers, including the founders, institutional investors and angel investors.
The transaction also involved exits at closing for institutional investors Lightspeed India, Kalaari Capital, Endiya Partners Fund II and MassMutual Ventures, alongside the founders and other angel investors, through the exercise of their rights under the shareholders’ agreement.
Fox & Mandal acted as Indian counsel to Info-Tech Research Group, Canada, on its 100% acquisition of Zluri, together with Zluri Inc., its wholly owned US subsidiary.
The deal team was led by Partner Saurav Bhaumik, with Principal Associate Rudresh Mandal, Associate Saumy Bhowmick and Associate Afshaa Hakim. Strategic inputs were provided by Partner Rohit Singhania.
SAM advised Zluri Technologies Private Limited, its founders and institutional investors, including MassMutual Ventures, Kalaari Capital, Endiya Partners and Lightspeed, on the sale of 100% of Zluri’s share capital to ITRG Holdings Inc.
The team advising Zluri and the founders comprised Partner Ashish Ahluwalia and Associate Adarsh Mishra, with strategic inputs from Partner Manish Gupta.
The team advising institutional investors comprised Partner Bhargava K.S. and Associate Allen Benny Mathews.
Partner Gouri Puri and Principal Associate Nimish Malpani advised MassMutual Ventures on tax.
