Aurionpro signs pact to increase stake in its subsidiary.

Aurionpro signs pact to increase stake in its subsidiary.

by 5paisa Research Team Last Updated: Dec 10, 2022 - 05:38 pm 48.9k Views
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This acquisition is pursuant to the right available to the company under the subscription and shareholders’ agreement signed for the acquisition of a 51% stake in 2018.

Global technology solutions leader, Aurionpro has announced the signing of an agreement for the acquisition of a further stake in its subsidiary SC Soft Pte Ltd (SC Soft). The transaction involves the acquisition of a further 29% stake in SC Soft from the existing shareholders, in various tranches up to December 31, 2022. This acquisition is pursuant to the right available to the company under the subscription and shareholders’ agreement signed for the acquisition of a 51% stake in 2018.

The acquisition of a 51% stake in SC Soft and resultant integration has established Aurionpro as an end-to-end supplier in the Automatic Fare Collection (AFC) segment and further acquisition of the stake in SC Soft will strengthen this position with increased synergies and capabilities.

To quote, Sanjay Bali, EVP of Aurionpro Solutions from a filing with the exchange, “SC Soft has a world-class technology which combined with the experience and reach of Aurionpro makes us a formidable player in the rapidly growing smart mobility market worldwide. The string of recent wins, strong pipeline and our deepening partnership with global players will help us grow this business rapidly in time to come and our decision to increase our holding in SC Soft signals our deeper commitment to this business.”

The company had announced last month that it had signed two strategic deals in their data centre business. It won two separate orders for setting up and designing of the data centres for two marquee names in the Indian market.

Aurionpro Solutions is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently. It combines core domain expertise, thought leadership in innovation, security and leverages industry-leading IP to deliver tangible business results for global corporations. Employing more than 1,200 domain and technology experts across North America, Asia and Europe, Aurionpro caters to a host of clients across the BFSI, telecom and logistics industry.

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