J Sagar Associates has represented Indian IT company Coforge on its proposed acquisition of a majority stake in software firm Cigniti Technologies for approximately $256 million. P&A Law Offices represented Cigniti and its promoters in the sale.

Publicly listed Coforge will acquire between 50.21 percent and 54 percent of Cigniti through share purchase agreements and a mandatory open offer.

The Competition Commission of India approved the proposed deal earlier this week.

Coforge expects the acquisition to propel it to become a $2 billion revenue company by FY27, and improve margins by 150-200 basis points.

The acquisition of Cigniti also enables Coforge to scale up and create three new verticals – retail, hi-tech and healthcare, the company said in a statement.

JSA’s transaction team was led by partner Anand Lakra, and included principal associate Ami Shah, senior associate Jinay Shah, and associates Shreya Shinde, Diya Dave, Parth Mehta, and BM Biplab.

Partners Utsav Johri and Sucheta Bhattacharya (banking and finance), Sonakshi Das (employment), Vaibhav Choukse and Ela Bali (competition), and Shareen Gupta (tax) also assisted on the deal.

P&A’s team was led by managing partner Anand Pathak and included principal associates Vibhuti Kochhar and Vandita Khare, and associates Devanshi Rungta, Laghavi Pahwa, and Vishnu Bali.

Its competition team, led by counsel Lagna Panda, also assisted on the deal.