US-based technology outsourcing company Virtusa Corp is buying a 53% stake in mid-tier Indian IT firm Polaris Consulting & Services for Rs 1,173 crore..ALMT Legal and Goodwin Procter LLP acted for Virtusa along with Virtusa’s General Counsel Paul Tutun..The ALMT team was led by Partners SR Arun and Rajat Bopaiah along with Partners Arindam Basu, Souvik Mazumdar and Senior Associates Arita Chatterjee and Vidya Ks..The Goodwin Procter team included Partners John Egan and Joseph Theis..J. Sagar Associates advised Arun Jain, Chairman of Polaris on the sale of his shareholding of approximately 28% to Virtusa..The JSA team was led by Partners Aarthi Sivanandh, Vikram Raghani and Somasekhar Sundaresan along with Senior Associate Bhavana Alexander and Associates Revathy Muralidharan and Bharat Sridhar..AZB & Partners acted for Orbitech Private Ltd, another shareholder on their shareholding of approx.16%. The AZB team was led by Partner Ashwin Ramanathan along with Senior Associate Roxanne Anderson..In addition, Virtusa will make an unconditional mandatory offer to the public shareholders of Polaris to purchase up to an additional 26% of the outstanding shares of Polaris, reports ET.
US-based technology outsourcing company Virtusa Corp is buying a 53% stake in mid-tier Indian IT firm Polaris Consulting & Services for Rs 1,173 crore..ALMT Legal and Goodwin Procter LLP acted for Virtusa along with Virtusa’s General Counsel Paul Tutun..The ALMT team was led by Partners SR Arun and Rajat Bopaiah along with Partners Arindam Basu, Souvik Mazumdar and Senior Associates Arita Chatterjee and Vidya Ks..The Goodwin Procter team included Partners John Egan and Joseph Theis..J. Sagar Associates advised Arun Jain, Chairman of Polaris on the sale of his shareholding of approximately 28% to Virtusa..The JSA team was led by Partners Aarthi Sivanandh, Vikram Raghani and Somasekhar Sundaresan along with Senior Associate Bhavana Alexander and Associates Revathy Muralidharan and Bharat Sridhar..AZB & Partners acted for Orbitech Private Ltd, another shareholder on their shareholding of approx.16%. The AZB team was led by Partner Ashwin Ramanathan along with Senior Associate Roxanne Anderson..In addition, Virtusa will make an unconditional mandatory offer to the public shareholders of Polaris to purchase up to an additional 26% of the outstanding shares of Polaris, reports ET.
