Khaitan & Co Advised L&T Technology Services On Sale Of Smart World And Communication Business Unit To AMI Paradigm

Khaitan & Co advised L&T Technology Services on Sale of Smart World and Communication Business Unit to AMI Paradigm

The leading Indian law firm, Khaitan & Co advised L&T Technology Services (LTTS) on the sale and transfer of its Smart World and Communication Business Unit, comprising the safe and smart segment and the communication segment, to AMI Paradigm Solutions Private Limited on a slump sale basis for a total consideration of INR 452 crores, subject to normal working capital, net debt, and other contractual adjustments.

AMI Paradigm is a special purpose entity established by ParadigmIT Technology Services Private Limited (promoted by Mr. Sridhar Gadhi), focused on advancing artificial intelligence (AI) for public systems and critical infrastructure. Prior to completion, AMI Paradigm will operate as a joint venture between ParadigmIT and AM Intelligence Labs Private Limited.

The Khaitan & Co acted as legal counsel for LTTS, assisting in structuring the sale and drafting, negotiating, finalising, and executing the transaction documents.

The Khaitan & Co team advising on the transaction included Niren Patel (Partner), Vidur Sinha (Partner), Akhil Kumar (Senior Associate), Vinita Jagtiani (Associate), and Apeksha Chauhan (Associate). 

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