Deal Street

April 18, 2019

Conneqt acquisition of Allsec Technologies led by JSA, CAM, AZB


Acquiring a majority stake in Allsec Technologies is Quess Corp’s Conneqt Business Solutions Unit. The transaction is valued at approximately Rs. 271 crores.

35.35% of the company will be bought by Conneqt from the promoters and 26% from First Carlyle Ventures Mauritius, taking its holding in the company to 61.35%. Quess will make an open offer to shareholders of Allsec to purchase upto 26% of the company under SEBI guidelines.,.

Acting for Conneqt Business Solutions was J. Sagar Associates with a team led by Partners Raj Ramachandran, Vikram Raghani and Anand Lakra along with Principal Associate Rakki K, Senior Associates Sindhu Nayak and Abhilash Chandran, Associates Ami Shah and Khamir Kamdar. Advising the Promoters was Cyril Amarchand Mangaldas with a team led by Partners Arjun Lall and Reeba Chacko. Carlyle was acted for by AZB & Partners with a team led by Partner Kashish Bhatia.

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