Agama Law Associates acted as legal counsel to Quantiguous Solutions, a Mumbai-based fintech startup, for the acquisition of its software by Deutsche Bank.

The bank also hired Quantiguous Solutions’ founder and staff as part of the deal, which was valued at almost US$5 million. Phoenix Legal partner Sawant Singh and senior associate Vishnu Shriram advised Deutsche Bank on the transaction.

Archana Balasubramanian, the founding partner of Agama Law Associates, said Quantiguous Solutions’ product was “so core to the banking system that the idea was to acquire the technology and the people as a package”. As Quantiguous Solutions as an entity was not part of the transaction, Balasubramanian said it would “eventually cease to exist”.

Quantiguous Solutions was founded in 2014 and specialized in conceptualizing, designing and creating turnkey solutions for machine-to-machine interactions via application programming interfaces and human-to-machine interactions on mobile devices.