India's multinational educational technology and online tutoring firm, Byju’s has acquired exam preparation firm Aakash Educational Services..The cash-and-stock deal has been closed at almost $1 billion, making it one of the most expensive deals in India’s burgeoning edtech space, reported Mint..Shardul Amarchand Mangaldas acted for Byju's with a team led by Partners Amit Khansaheb, Roshan Thomas and Prateek Lala with Pranav Raju, Senior Associate, Ritwik Mukherjee, Associate, Rachna Chhabria, Associate and Aishwarya Ray, AssociateDue Diligence Team: Roshan Thomas, Partner, Arjun K. Perikal, Partner, Mukul Baveja, Partner, Leoni Mahanta Principal Associate, Pranav Raju, Senior Associate, Apoorva Murali, Senior Associate, Akshita Alok, Senior Associate and Rachna Chhabria, AssociateIntellectual Property Law Team (on diligence and documentation): Mukul Baveja, Partner, Leoni Mahanta Principal Associate, Apoorva Murali, Senior Associate, Tim Gupta, Associate Litigation and Disputes Team (on diligence and merger documentation): Arjun K. Perikal, Partner, and Akshita Alok, Senior Associate.Competition Law Team: Naval Satarawala Chopra, Partner, Aparna Mehra, Partner, Kajori De, Associate, Kshitij Sharma, Associate, Ritika Sood, Associate, and Rahul Shukla, Associate..Khaitan & Co advised Aakash Educational Services and the team was led by Partners Bharat Anand and Nidhi Killawala along with Principal Associates Akshay Sharma and Nimisha Trehan.Competition team: Manas K Chaudhuri (Partner), Pranjal Prateek (Partner) Alisha Mehra (Associate)Corporate team: Atul Pandey (Partner), Hirak Mukhopadhyay (Principal Associate), Nikita Bhuwania (Principal Associate), Varun Yadav (Principal Associate), Pulkit Chaturvedi (Senior Associate), Aayush Thapar (Associate),IP team: Shailendra Bhandare (Partner)Employment team: Abhinav Rastogi (Counsel), Anshul Prakash (Partner).Post the transaction, Blackstone Group and Aakash Institute’s founders will hold a minority stake in Byju’s at a valuation of about $13 billion.Trilegal acted for Blackstone and the team was led by Partners Nishant Parikh, Arjun Ghose and Anirudh Agarwala along with Sneha Vardhan, Aakriti Shakdher, Rahil Pereira, Medha Shah, Vatsla Bhardwaj..Last year, Byju’s had acquired Mumbai-based ed-tech startup WhiteHat Jr. in a $300 million all-cash transaction from Karan Bajaj (WhiteHat Jr. founder) and Nexus Ventures, Omidyar Network and Owl Ventures (selling investors).
India's multinational educational technology and online tutoring firm, Byju’s has acquired exam preparation firm Aakash Educational Services..The cash-and-stock deal has been closed at almost $1 billion, making it one of the most expensive deals in India’s burgeoning edtech space, reported Mint..Shardul Amarchand Mangaldas acted for Byju's with a team led by Partners Amit Khansaheb, Roshan Thomas and Prateek Lala with Pranav Raju, Senior Associate, Ritwik Mukherjee, Associate, Rachna Chhabria, Associate and Aishwarya Ray, AssociateDue Diligence Team: Roshan Thomas, Partner, Arjun K. Perikal, Partner, Mukul Baveja, Partner, Leoni Mahanta Principal Associate, Pranav Raju, Senior Associate, Apoorva Murali, Senior Associate, Akshita Alok, Senior Associate and Rachna Chhabria, AssociateIntellectual Property Law Team (on diligence and documentation): Mukul Baveja, Partner, Leoni Mahanta Principal Associate, Apoorva Murali, Senior Associate, Tim Gupta, Associate Litigation and Disputes Team (on diligence and merger documentation): Arjun K. Perikal, Partner, and Akshita Alok, Senior Associate.Competition Law Team: Naval Satarawala Chopra, Partner, Aparna Mehra, Partner, Kajori De, Associate, Kshitij Sharma, Associate, Ritika Sood, Associate, and Rahul Shukla, Associate..Khaitan & Co advised Aakash Educational Services and the team was led by Partners Bharat Anand and Nidhi Killawala along with Principal Associates Akshay Sharma and Nimisha Trehan.Competition team: Manas K Chaudhuri (Partner), Pranjal Prateek (Partner) Alisha Mehra (Associate)Corporate team: Atul Pandey (Partner), Hirak Mukhopadhyay (Principal Associate), Nikita Bhuwania (Principal Associate), Varun Yadav (Principal Associate), Pulkit Chaturvedi (Senior Associate), Aayush Thapar (Associate),IP team: Shailendra Bhandare (Partner)Employment team: Abhinav Rastogi (Counsel), Anshul Prakash (Partner).Post the transaction, Blackstone Group and Aakash Institute’s founders will hold a minority stake in Byju’s at a valuation of about $13 billion.Trilegal acted for Blackstone and the team was led by Partners Nishant Parikh, Arjun Ghose and Anirudh Agarwala along with Sneha Vardhan, Aakriti Shakdher, Rahil Pereira, Medha Shah, Vatsla Bhardwaj..Last year, Byju’s had acquired Mumbai-based ed-tech startup WhiteHat Jr. in a $300 million all-cash transaction from Karan Bajaj (WhiteHat Jr. founder) and Nexus Ventures, Omidyar Network and Owl Ventures (selling investors).
