Firstsource Solutions Limited has acquired 100% shares of Quintessence Business Solutions & Services Private Limited (“QBSS”) from its existing shareholders, i.e., Anitha Balasubramanian, N S Ragunathan, T S Giridharan, R Nirmal Kumar (“Sellers”) for Rs. 327 Crore (approximately $39.25 Million), on a cash-free and debt free basis.

Khaitan & Co advised and assisted Firstsource Solutions on this acquisition deal.

The core transaction team consists of Kapish Mandhyan (Partner), Shourya Sengupta (Partner), Sruti Baid (Principal Associate), Karishma Sethia (Associate) and Unnati Khanna (Associate) with assistance from Supallab Chakraborty (Senior Associate).

IP Aspects: Shailendra Bhandare (Partner), Sourav Dan (Principal Associate) and Vaishali Adhikari (Associate).

Employment Aspects: Abhinav Rastogi (Partner) and Ransher Singh (Associate)

Data Privacy: Sumantra Bose (Counsel) and Himeli Chatterjee (Associate)

Indirect Tax: Mayank Jain (Partner), Pranay Sahay (Principal Associate) and Akshita Shetty (Principal Associate)

Khaitan & Co also acted as the transaction counsel for QBSS and the selling shareholders on this transaction.

The transaction team consisted of Vivek Sriram (Partner), Rahul Chandramouli (Principal Associate), Vaasavi Sashiraman (Senior Associate) and Varsha Gopalakrishnan (Senior Associate).

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