TechnoPro Holdings, Inc. entered in an agreement to acquire a 80% stake in Robosoft Technologies Private Limited from Kalaari Capital Partners II managed by Kalaari Capital Advisors Private Limited, Ascent India Fund III managed by Ascent Capital Advisors and others for INR 5,800 million.
August 09, 2021
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TechnoPro Holdings, Inc. (TSE:6028) entered in an agreement to acquire a 80% stake in Robosoft Technologies Private Limited from Kalaari Capital Partners II, managed by Kalaari Capital Advisors Private Limited, Ascent India Fund III, managed by Ascent Capital Advisors and others for INR 5,800 million on August 10, 2021. TechnoPro plans to acquire remaining 20% equity of Robosoft in July 2022. TechnoPro will be acquiring Common Shares: 21,858,994 shares, Class A Shares: 11,602,477 shares, Class B Shares: 8,928,703 shares for INR 8,050 million out of which purchase price in the first tranche is approximately INR 5,800 million. After transfer TechnoPro will be having Number of voting rights: 39,881,969. As part of the acquisition TechnoPro is acquiring 37.3% stake from Ascent Capital, 27.0% stake from Kalaari Capital and 35.7% stake from 15 individuals including promoters and executives of Robosoft. Robosoft will become a subsidiary of TechnoPro in the two phased transactions: 80% in the first tranche and remaining 20% in the second one approximately one year later. The first transaction is expected to be completed by Late August 2021 and second tranche by July 2022. GCA Advisors, LLC acted as a financial advisor to Robosoft Technologies Private Limited.
TechnoPro Holdings Inc is a Japan-based company mainly engaged in dispatch and contract engineers in the fields of machinery, electrical/electronics, embedded control, software development and maintenance, biochemistry and construction management. It operates through four business segments. Research and Development (R&D) Outsourcing segment provides engineer dispatch and contract work in the technical fields of machinery, electric & electronics, embedded control, information technology networks, business applications, system maintenance and operation. Construction Management Outsourcing segment dispatches engineers for construction management in the areas of construction, civil engineering. It also provides contract work for creating architectural drawings. Overseas segment provides technology outsourcing and recruitment services in China, Singapore, India and the United Kingdom. Domestic and Other segment provides recruitment services and technical education and training services.
TechnoPro Holdings, Inc. entered in an agreement to acquire a 80% stake in Robosoft Technologies Private Limited from Kalaari Capital Partners II managed by Kalaari Capital Advisors Private Limited, Ascent India Fund III managed by Ascent Capital Advisors and others for INR 5,800 million.