Fox & Mandal acted as Indian counsel to Info-Tech Research Group (ITRG), Canada, in connection with its 100% acquisition of Zluri Technologies Pvt Ltd, a SaaS management and identity governance platform, along with Zluri Inc., its wholly owned US subsidiary.
The transaction facilitated the exit of institutional investors Lightspeed India Partners, Kalaari Capital Partners, Endiya Partners Fund II and MassMutual Ventures, along with the founders and other angel investors. The transaction involved the exercise of investor rights under the shareholders’ agreement and the structuring of an earn-out arrangement with FEMA implications.
Fox & Mandal advised on deal structuring, legal due diligence, incentive plan structuring, transaction documentation and negotiations through to closing.
The team was led by Saurav Bhaumik (Partner), assisted by Rudresh Mandal (Principal Associate), Saumy Bhowmick (Associate), and Afshaa Hakim (Associate). Rohit Singhania (Partner) provided strategic inputs.
