Khaitan & Co advised Sovos Compliance on acquisition of GST business from IRIS Business Services
Khaitan & Co advised Sovos Compliance Limited on the acquisition of the GST Application Service Provider business of IRIS Business Services Limited. The transaction involves carving out the GST business into IRIS Logix Solutions Private Limited, a wholly owned subsidiary of IRIS Business Services Limited, followed by the acquisition of IRIS Logix Solutions Private Limited by Sovos Compliance. Deal closing is subject to fulfilment of customary closing conditions.
The firm’s core transaction team comprised Ashwin Bishnoi (Partner), Aravind Venugopal (Partner), Shreyas Bapat (Principal Associate), Rahul P S (Senior Associate), Amrutha Alapati (Associate), and Harshit Sawale (Associate).
The core due diligence team included Ashwin Bishnoi (Partner), Aravind Venugopal (Partner), Shreyas Bapat (Principal Associate), Amrutha Alapati (Associate), and Tasneem Husain (Associate).
For data privacy due diligence, the team comprised Supratim Chakraborty (Partner) and Shramana Dwibedi (Senior Associate). Employment due diligence was handled by Anshul Prakash (Partner), Kruthi Murthy (Principal Associate), and Ajeta Anand (Senior Associate). Intellectual property due diligence was led by Shailendra Bhandare (Partner), Huzaifa Taher Faizullabhoy (Senior Associate), and Shouraseni Chakraborty (Associate). Tax aspects were covered by Rahul Jain (Partner) and Jinisha Jain (Senior Associate). Anti-trust advice was provided by Pranjal Prateek (Partner) and Sana Vaidya (Associate).
Khaitan & Co advised Sovos Compliance Limited on all aspects of due diligence, transaction structuring, drafting, negotiation, finalisation of documents, and closing support.
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