DSK Legal advised Flipkart on EasyRewardz & Netcore
DSK Legal advised Flipkart Internet Private Limited (“Flipkart”) in entering into a Shareholders Agreement with EasyRewardz Software Services Private Limited (“EasyRewardz”) and Netcore Cloud Private Limited(“Netcore”). In October 2019, Flipkart acquired a strategic minority stake of 20% in EasyRewardz by way of a transaction which was a mix of secondary as well as primary acquisition. DSK Legal acted as counsel for Flipkart in the first round as well.
The DSK core team representing Flipkart, for the transaction comprised of Mr. Harvinder Singh, Partner (who acted as the lead partner on the transaction) and Ms. Shubhi Ameriya, Senior Associate. Mr. Aparajit Bhattacharya, Partner, acted as the relationship partner and provided strategic inputs on the transaction.
Now, in the current round, Netcore has also acquired a strategic minority stake by way of a transaction which was a mix of secondary as well as primary acquisition through a Series B funding. Netcore is a leading global marketing technology company offering AI-powered marketing automation, personalization and communication platforms based on Email, SMS WhatsApp, voice, app and web solutions to enable enterprises to have a customer communication and engagement platform.
EasyRewardz offers analytics, automation and customer relationship management services to businesses including providing a loyalty program toolkit, campaign engine, feedback engine, ticket management system, lead management system, AI chatbot, marketing automation and business analytics.
DSK Legal assisted Flipkart on all legal and transaction advisory matters including inter alia: (i) drafting, negotiating and finalizing the definitive transaction documentation, including termsheet, shareholder agreement, share purchase agreement, share subscription agreement, escrow agreement, strategic partnership agreements etc.; (ii) assisting in achieving closing of the transaction.
EasyRewardz was represented by AZB & Partners & Netcore was represented by Advent Juris.
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