Assisted Centre Lane Partners on acquisition of Synacor, Inc. and its Indian subsidiary

Centre Lane Partners (CLP), a private equity firm, acquired Synacor, Inc. (Synacor), a leading cloud-based collaboration and communications platform provider, along with its Indian subsidiary, Zimbra Technology India Private Limited (Zimbra India). The acquisition, valued at US$92 million, involved a tender offer followed by a reverse merger. Majmudar & Partners provided strategic legal advisory services for the Indian aspects of this cross-border transaction, ensuring compliance and smooth execution.

Facilitating the Transaction

Majmudar & Partners played a critical role in managing the Indian legal and regulatory complexities of the acquisition. Key contributions included:

  • Regulatory Compliance and Structuring: Reviewed Indian legal frameworks, including the Companies Act, 2013, and the Foreign Exchange Management Act (FEMA), 1999, to ensure compliance with foreign investment regulations and other applicable laws.
  • Due Diligence: Conducted comprehensive due diligence on Zimbra India, identifying potential regulatory risks and providing strategic advice to mitigate them.
  • Documentation and Negotiation: Drafted and negotiated transaction documents for the acquisition of Zimbra India, ensuring seamless integration into the global acquisition strategy and compliance with Indian law.
  • Tax Implications and Filings: Advised on tax implications under Indian law, ensuring that all statutory filings related to the acquisition and merger process were accurate and timely.

This acquisition allowed CLP to expand its presence in the cloud collaboration and communications sector globally, leveraging the capabilities of Synacor and its Indian subsidiary, Zimbra India. Majmudar & Partners’ legal expertise facilitated a seamless transaction, ensuring regulatory compliance and safeguarding the client’s strategic interests.

With extensive experience in managing cross-border private equity transactions, Majmudar & Partners ensures smooth execution and compliance with Indian legal frameworks. Contact us today to navigate the complexities of private equity investments in India.

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