India’s Nidar Infrastructure Ltd., an artificial intelligence-focused data center, has agreed to go public through a merger with special-purpose acquisition company Cartica Acquisition Corp. in a deal that values Nidar at $2.75 billion.
Nidar merges with Cartica in a $2.75 billion deal : Legal Counsel and Deal Structure
Allen Overy Shearman Sterling, SNG & Partners, and Vale Law are serving as legal counsel to Nidar, while Morrison Foerster LLP, Khaitan & Co., Appleby (Cayman) Ltd., and Appleby are representing Cartica, according to a Monday statement about the deal.
Nidar’s Market Position and Services
Nidar provides information technology infrastructure and solutions on an “as-a-service” model to customers worldwide, including enterprises, governments, startups, and small and medium-sized enterprises. The merger positions Nidar to enhance its market presence significantly.
“Nidar is India’s leading data center provider for AI and high-performance compute,” Sunil Gupta, CEO and co-founder of Nidar, said in a statement. “With our priority access to industry-leading GPUs through our partnership with the world’s leader in high-performance compute, together with the added ability to access U.S. capital markets, we are poised to capture long-lasting demand from cloud infrastructure and AI.”
Strategic Importance of the Merger
Cartica has been seeking a business combination in the technology space. Following the completion of the merger, Nidar will become a public company, marking a significant milestone for both entities.
