A&O Shearman represents Nidar Infrastructure in USD2.75 billion SPAC merger with Cartica Acquisition Corp

Published Date
Jul 3, 2024
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A&O Shearman represented Nidar Infrastructure Ltd, an artificial intelligence-focused data center, in its agreement to merge with Cartica Acquisition Corp. in a transaction that values Nidar at USD2.75 billion.

The agreement calls for a wholly‑owned subsidiary of Nidar being merged with Cartica with Cartica surviving the merger as a wholly owned subsidiary of Nidar, and immediately thereafter, Cartica merging with Nidar, which will become the public company. The transaction was announced on June 24 in a press release.

Nidar is India's leading data center provider for artificial intelligence, providing advanced information technology infrastructure and solutions on an "as-a-Service" model to customers worldwide, including enterprises, governments, start-ups and hyper-scalers.

The A&O Shearman team that represented Nidar was led by M&A partners Alain Dermarkar and Bobby Cardone, and included M&A associates Theodora Volsky, Emily Greenwood and Jake Lortz.