Centre Lane Partners, LLC, a private investment firm that invests in the equity and debt of middle-market companies in North America has completed its acquisition of Synacor, Inc. (Nasdaq: SYNC, now delisted) and its affiliates, including Zimbra Technology India Private Limited, through a tender offer and subsequent reverse merger. The transaction values Synacor, Inc. at US$92 million. This deal marks the first acquisition for Centre Lane in India. Synacor, Inc. is a leading provider of cloud-based collaboration and identity management software. Majmudar & Partners advised on the Indian law aspects of this deal. The team was led by Partner and Head of the M&A Practice, Rukshad Davar.
EXL Service.com deemed not to have a PE in India
Last week, in the EXL Service.Com, Inc. case, the Delhi Income-tax Appellate Tribunal (Tribunal) followed the Supreme Court’s rulings in the Formula One and E-Funds cases and, inter alia, held that a US taxpayer does not have a fixed place permanent establishment...