Leading AI data center provider to go public via merger with Cartica Acquisition Corp

Nidar Infrastructure and Cartica Acquisition have entered into a definitive Agreement and Plan of Merger for a business combination. Nidar is India’s leading data center provider for artificial intelligence (“AI”) and high-performance compute. Nidar provides advanced information technology infrastructure and solutions on an “as-a-Service” model to customers worldwide, including enterprises, governments, start-ups and small- and medium-sized enterprises, and hyperscalers. 

Nidar’s offerings include colocation services, managed services and cloud services, and AI services. The pre-transaction equity value of Nidar implied by the Business Combination terms is approximately $2.75 billion. Cartica is a special purpose acquisition company seeking to identify and complete a business combination with a suitable business combination partner in the technology space.

Sunil Gupta, CEO and co-founder of Nidar, commented, “Through its Yotta data centers, Nidar is India’s leading data center provider for AI and high-performance compute. Yotta designs, builds and operates Tier III and IV data centers in India, which offer both colocation and hyperscale services and cloud and managed services. 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 US capital markets, Yotta is poised to capture long-lasting demand from cloud infrastructure and AI.”

Darshan Hiranandani, co-founder of Nidar and director of Nidar’s largest shareholder, added, “Nidar’s management team has significant experience in successfully building and operating India’s leading data center provider.  By combining with Cartica, this will enable our management team to continue to execute on our growth strategy to effectively build on Yotta’s world-class platform, accelerate growth, and create long-term shareholder value.”

Suresh Guduru, CEO of Cartica, stated “Our partnership with Nidar is reflective of our belief in the opportunity in technology infrastructure, Compute as-a-Service, and India’s role in the global technology ecosystem. Under Sunil’s leadership, we believe Yotta has positioned itself at the forefront of the global AI movement.”

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