Pine Labs Pvt. Ltd. completed the acquisition of QwikCilver Solutions Private Limited from group of sellers.
April 19, 2019
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Pine Labs Pvt. Ltd. entered into an agreement to acquire QwikCilver Solutions Private Limited from group of sellers for $110 million on March 19, 2019. The transaction has been funded from the company's cash reserves and additional funding from existing investors. Kumar Sudarsan will join the Pine Labs leadership team after the completion of the transaction. The transaction is subject to the closing conditions.
Abhishek Dwivedi, Amritha Salian, Alimpan Chatterjee, Srivani Tyarla, Shruti Mahajan, Anupam Datta Roy, Utsav Gandhi, Shivani Setty and Anmol Jain of Themis Associates acted as legal advisor to Pine Lab Pvt. Ltd. Srinivas Katta, Anindya Ghosh, Ajay Randhawa and Abhishresth Goswami of Indus law acted as legal advisor for two largest existing shareholders Accel and Helion. Mahesh Devaiah, Sandhya P.V and Sridip Sural of MD&T Partners acted as legal advisor to QwikCilver promoter. Vivek K. Chandy, Archana Tewary, Siddharth K. Vedula of J. Sagar Associates acted as legal advisor to Amazon and Rohitashwa Prasad and Anshu Bansal of J. Sagar Associates acted as legal advisor to Sistema Asia Fund Pte. Ltd existing investors in Qwikcilver Solution. Bijal Ajinkya and Jimmy Bhatt of Khaitan & Co acted as tax counsel to Amazon Asia-Pacific Resources Pte Ltd. Klass Oskam, Eric Edmondson, Mattew Epstein and Meherzad Kelawala of DC Advisory acted as financial advisor to QwikCilver Solutions Private Limited.
Pine Labs Pvt. Ltd. completed the acquisition of QwikCilver Solutions Private Limited from group of sellers on April 19, 2019. With the acquisition, Qwikcilver Solutions Pvt Ltd. and Pine Labs Pvt. Ltd. have a combined gift solutions business.
Amazon.com, Inc. is one of the world leaders in on-line distribution of products to the general public. The group also operates a marketplace activity, allowing individuals and distribution companies to conduct their purchase and selling transactions for goods and services. The activity is organized around three families of products and services:
- electronic and computer products: toys, cameras, computers, laptops and peripherals, TVs, stereo systems, readers, wireless communication products, etc. Amazon.com also offers kitchen and garden equipment, clothing, beauty products, etc.;
- cultural products: books, musical products, video games and DVDs;
- other: primarily Internet interface and application development services.
Net sales break down by source of income between sales of services (55.5%) and sales of products (44.5%).
Net sales are distributed geographically as follows: the United States (68.8%), Germany (6.5%), the United Kingdom (5.9%), Japan (4.5%), and other (14.3%).