November 10, 2021
Ahlawat & Associates has recently advised Dev Clever Holding PLC/ Dev Clever, a listed company established in the UK, engaged in the business of designing and developing software and technology specialized in the use of lightweight integrations of cloud-based gamification and virtual reality technologies across both the commercial and education sectors (“Acquirer”), on acquisition of Veative Labs Private Limited, a wholly-owned subsidiary of Singapore based educational technology company i.e., Veative Labs Pte. Ltd. (“Singapore Holding Company”) involved in the business of delivering educational content through immersive technologies. The transaction was multi-geographical wherein the Acquirer being a listed company in the UK acquiring an Indian wholly-owned subsidiary from its Singapore Holding Company.
A&A advised the Acquirer on the above transaction including conducting legal due diligence and closing of the transaction documents. The approximate deal value is INR 500 billion.
A&A Team included Mr. Uday S. Ahlawat (Managing Partner), Ms. Disha Toshniwal (Senior Associate), Mr. Aman Chadha (Senior Associate), Ms. Shramona Sarkar (Associate), Mr. Sarthak Chawla (Associate) and Mr. Garv Sood (Associate).
Partner, Kavita Patwardhan says, “This transaction was particularly interesting for us since it involved multiple parties from multiple jurisdictions and the brainstorming involved in structuring and closing the transaction documents. It was a wonderful experience to be leading this transaction.”
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