Belding India Limited has successfully acquired Evolve IT Solutions Private Limited in a complete buyout from its existing promoters and shareholders. The esteemed law firm Khaitan & Co provided legal counsel to Belding India throughout this acquisition process. Their responsibilities included drafting, negotiating, and finalizing key transaction documents such as the share purchase agreement and deed of assignment, ensuring a timely transaction closure despite stringent deadlines.
The legal team from Khaitan & Co was led by Partner Gautam Suseel, with support from Counsel Neekesh Shetty, Senior Associate Ansif Latheef, and Consultant Devika Vasandani. Their expertise was instrumental in navigating the complexities of the acquisition.
Evolve IT Solutions is recognized for its involvement in the manufacturing, assembly, and sale of X-ray baggage scanners, including X-ray generators and imaging software, as well as dental X-ray products. They also provide a range of maintenance services associated with these technologies. The acquisition is a strategic move for Belding India, aligning with their ambition to establish a leading indigenous engineering and technology platform within the nation.
This deal represents a significant milestone for Belding India, furthering their technological and engineering capabilities. By integrating Evolve’s expertise and product offerings, Belding aims to enhance its market position and expand its portfolio in cutting-edge technological solutions.
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