J. Sagar Associates (JSA) advised and assisted Rakuten Mobile Inc. (Rakuten) (a wholly owned subsidiary of Rakuten Inc.), in its 100% acquisition of Innoeye Software Technologies Private Limited (“Innoeye PVT”), and Innoeye LLC (Innoeye PVT and Innoeye LLC collectively referred to as “Innoeye”). Rakuten Inc. is the largest e-commerce company of Japan.
Innoeye is an engineering technology solutions company and is engaged in designing, developing and delivering end-to-end Telecom Operation Support System Solutions (OSS), Business Support System Solutions (BSS). The OSS and automation platform is utilized by a variety of companies (traditional operator, new operator, cable companies) for CEM cloudification, 5G, and process automation. While Innoeye PVT serves as an offshore development centre for the technology solutions, Innoeye LLC holds the intellectual property and executes the contracts with customers. Innoeye LLC also serves as the holding company for Innoeye Japan and Innoeye PTE (Singapore). Innoeye serves some of world’s major companies including Nokia, Telstra, BT and Charter Spectrum.
While the deal has been signed, it is expected to close post completion of certain conditions precedent. The transaction is valued at USD 150,000,000 (United States Dollars One Hundred Fifty Million), approximately equivalent to INR 11.2 billion.
JSA and Baker & Mckenzie (Gaikokuho Joint Enterprise) advised Rakuten on the transaction.
JSA team was led by Partners – Trisheet Chatterjee and Zain Pandit.
Partner, Minu Dwivedi advised on certain employment related issues.
The other JSA members who worked on the transaction were Principal Associate – Sarvesh Kumar Saluja; Senior Associate – Adhiraj Gupta and Associate – Harshita Iyer.