NewgenKnowledgeWorks Acquires Majority Stake in Exult Infosolutions
Exult and Newgen recently announced that Newgen has acquired a majority stake in Pune’s Exult Infosolutions, a company engaged in Learning Solutions, Mobility and Web application services and products. This acquisition would help Carlyle Group-backed Newgen enter the space of e-Learning and mobility across multiple new markets. NewgenKnowledgeWorks is a Chennai, India based leading provider of publishing and technical services to global publishers.
Exult has over eight and half years of experience in consulting and outsourcing services. Exult helps Fortune 1000 leading global businesses to achieve training goals by providing Custom Learning Solutions, Software Application Development, Mobility Solutions, and UI/UX Design.
Both companies are key players in the content development and transformation space. While Newgen focuses more on the traditional piece of publishing, Exult is more futuristic in terms of Digital services and products, enterprise mobile apps and cloud based application. This creates substantial opportunities to Newgen to reach out to their vast customer base with all these new service offerings. Exult would benefit from an expanded customer outreach, executive management support and opportunities to expand into newer verticals.
Since the world of education, corporate training and publishing is changing at a very fast pace, the timing of this partnership could not have been better.
Interview with Sameena Chatrapathy – Partner Universal Legal, Attorneys at Law:
Please tell me about your involvement in the deal?
Universal Legal, Attorneys at Law represented NewgenDigitalWorks Group on the transaction. I led the team from Universal Legal through the transaction cycle. Our role involved legal risk assessment of the target company and thereafter drafting, negotiation and closure of the transaction documents. We were deeply involved at every stage of the transaction to facilitate an effective closure.
Why is this a good deal for all involved?
Newgen is a client we have been servicing since 2010 and this is a major step in the growth of their business. It’s an immense privilege for us to have advised them on this acquisition.
What challenges arose? How did you navigate them?
The timelines were extremely stringent on the closure of the transaction, typical to any significant acquisition of this nature. In order to meet this challenge, we deployed an experienced team that worked together under pressure to ensure a smooth, successful and timely closure.
