Indian telecommunications provider Tulip Telecom has acquired an ecofriendly data centre in Bangalore. The transaction was structured so that a wholly owned subsidiary – Tulip Data Centre Services – made the purchase by acquiring 100% of the equity shareholding of Sada IT Parks, which houses the data centre. The deal was valued at approximately `2.3 billion (US$50 million).
“Our new data centre will help meet the rising customer requirements for co-location, managed hosting, and data storage and a suite of other complementary services including managed security services and storage requirements,” said Tulip Telecom CEO Sanjay Jain.
Amarchand Mangaldas advised Tulip Telecom on structuring the deal and assisted in drafting, negotiating and finalizing the transaction documents. Amarchand’s team was led by Kolkata-based partner Kalpataru Tripathy along with senior associate Arindam Sarkar and associate Soumya Banerjee.
KPMG advised Tulip on financial matters, while Ritesh Khandelwal and Sadashiv Prasad at Prasad & Associates provided financial advice to Sada IT Parks.
