P&A Law Offices advised and assisted RIB Software when it increased its investment in technology software provider Winjit Technologies from 15% to 51%. Universal Legal advised Winjit Technologies and its two co-founders.
Announcing the deal on 17 November, RIB Software – a Frankfurt Stock Exchange-listed provider of construction and building information modelling software – said it could also acquire an additional 24.5% stake in Winjit Technologies in 2021, and the remaining 24.5% in 2022 through call options.
Winjit Technologies is an internet of things (IoT) artificial intelligence (AI), machine learning, blockchain and fintech solutions provider.
In a comment to India Business Law Journal on the deal, P&A Law Offices partner Ketan Mukhija, who led his firm’s team, said it was “heartening to advise and work on nuanced transactions with continued investments into India during these difficult times”.
Principal associate Gaurav Priyadarshi, senior associate Amit Bhatnotra and associate Karishma Singh assisted on the deal. P&A Law Offices had also advised RIB Software when it acquired a 15% of Winjit Technologies in August 2019.
Universal Legal’s team comprised partner Rashi Kapoor Mehta and associate Henna R Kapadia.
The increased investment in Winjit is expected to strengthen RIB Software’s research and development capability in IoT, AI, blockchain and fintech for the architecture engineering and construction industry.