Cyril Amarchand Mangaldas has advised AMI Paradigm Solutions Private Limited on its acquisition of the Smart World and Communication Business Unit of L&T Technology Services Limited through a slump sale for a total consideration of INR 452.50 crore. Khaitan & Co acted as Indian counsel to L&T technology services limited.
The consideration of INR 452.5 crore is subject to customary adjustments, including working capital, net debt and other agreed parameters, as outlined in the business transfer agreement. The transaction is expected to close on or before September 2026, subject to customary condition, according o L&T Technology Services.
AMI Paradigm Solutions stated that the acquisition is aimed at expanding its sovereign A1 offerings for governments, public systems and critical infrastructure.
CAM’s transaction team was led by senior partner Santosh Janakiram, who provided strategic inputs on the transaction, with the help of partner co-head digital | TMT Arun Prabhu, and partner Edward James, with support from principal associate Apoorva Sundar, senior associate Vedantha Sai, consultant Vasundhara Majithia, associates Julia Joseph and Divyashri Sivaramakrishnan.
Employment related aspects were looked after by partner Bishen Jeswant, with support from principal associate Faiza Khan, and associates Nilavan S.
General corporate and dispute resolution was advised by partner Edward James, with support from principal associate Aashish Dafaria, senior associate Vedantha Sai, and associate Mansi Sethiya.
Khaitan’s team included partners Niren Patel, Vidur Sinha, senior associate Akhil Kumar and associates Vinita Jagtiani, Apeksha Chauhan.
