J. Sagar Associates (JSA) advised Le Travenues Technology Limited (ixigo) in its acquisition of the business of Abhibus Services (India) Private Limited.deal
The business comprises the operation of the website www.abhibus.com and certain apps for booking of bus, train, and hotel, which operates an online marketplace for bus tickets, trains and hotel rooms in India. The transaction was an acquihire transaction with two stages to accommodate certain commercial considerations, which is uncommon in business acquisitions. The business transfer and acquihire including transfer of registered trademarks and copyrights had to be done in a very short period of time. Given the industry the target operates in, transfer of material contracts was a key issue which had to be dealt with carefully.
K&S Partners advised on the transfer of intellectual property with a team comprising Partners – Latha Nair & Ashish Kanta Singh and Associate – Rinky Kumari.
JSA team comprised Joint Managing Partner – Vivek K. Chandy, Partner – Archana Tewary, Senior Associate – Aditi Aggarwal, Associates – Sandesh Atyam & Aishwarya Gupta, and Junior Associate – Sneha Mohanty.
Archana has worked in private equity, capital markets and general corporate teams and has primarily worked on investments by private equity investors in unlisted companies and offerings of equities and securities by listed and unlisted companies.
Vivek assumed office as the Joint Managing Partner of the Firm from January 2019. He has over 30 years of experience in areas of private equity, mergers and acquisitions, corporate commercial work and real estate advisory in India.