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Aurionpro Solutions Ltd. — M&A Activity 2023
Oct 12, 2023
60353_rns_2023-10-12_4fff5c9f-abda-4d5a-a446-60cda297af7b.pdf
M&A Activity
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12[th] October, 2023
To, Dept. Of Corporate Services- Listing National Stock Exchange of India Limited Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (East) Mumbai – 400051.
Sub: Press Release
Dear Sir/Madam,
Please find attached a Press Release titled “Aurionpro announces strategic acquisition – Banking and Fintech division to acquire business providing comprehensive loan management system to ” Banks and FIs.
Kindly take this on your record.
Thanking you,
Yours faithfully,
For Aurionpro Solutions Limited
Digitally signed by Ninad Prabhakar Ninad Prabhakar Kelkar Kelkar Date: 2023.10.12 09:30:40 +05'30' Ninad Kelkar Company Secretary
Phone +91 22 4040 7070 [email protected] Fax +91 22 4040 7080 www.aurionpro.com CIN: L99999MH1997PLC111637
Aurionpro Solutions Limited
Synergia IT Park, Plot No. R-270, T.T.C. Industrial Estate, Gautam Nagar, Near Rabale Police Station, Rabale, Navi Mumbai 400701. MH-India.
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Aurionpro announces strategic acquisition – Banking and Fintech division to acquire business providing comprehensive loan management system to Banks and FIs
12[th] October 2023, Mumbai
Aurionpro announces purchase of business consisting of a comprehensive loan management system to complement and enhance its portfolio of industry leading Lending Solutions. The transaction involves Aurionpro purchasing Omnifin®, loan management system catering to 45+ banks and financial institutions in the Indian domestic market, from A S Software Services Pvt. Ltd, a company based in NOIDA, India.
This acquisition covers purchase of the entire business, as a going concern, covering all the assets & liabilities of the target business including the intellectual properties, 150+ employees & contracts and such transfer and payment of consideration will be governed by the Business Transfer Agreement (BTA) between the parties. The total deal is valued close to INR 82 Crores, to be paid in cash.
Abhijit Mittra, CEO – Managing Director of A S Software Services Private Limited said “we are delighted with this deal and are excited to be part of the Aurionpro family as we believe we share common values and culture. We can leverage Aurionpro’s market position and capabilities to take this business to newer markets and expand our share in this rapidly growing market. We are thankful to Aurionpro for this deal and we look forward to a great future for the product, our clients and our team.”
Ashish Rai, Vice Chairman while announcing the deal said “we are excited to announce this acquisition as it allows us to significantly accelerate our strategic plan to create the most comprehensive portfolio of lending solutions globally. Omnifin is a cutting edge, proven and comprehensive product suite which fills an identified gap in our lending solutions footprint. I am confident that Aurionpro’s industry leading position in Asia and Omnifin’s deep product and talent will make this a tremendous win-win deal for both the parties. We will sharply focus on leveraging strengths from both the businesses to rapidly scale this business by expanding in India as well as international markets. Abhijit and his team are absolutely the best in this business and they will be a very high-quality addition to Aurionpro’s leadership team”
About Aurionpro:
Aurionpro Solutions Limited (NSE: AURIONPRO, BSE: 532668) is an advanced technology solutions company catering to the needs of the Banking, Mobility, Payments, and Government sectors. We converge multiple technology solutions under our umbrella, acting as one platform for Advanced and Accelerated Platform-led Transformation, guiding businesses to ADAPT to a new paradigm in Digital. Headquartered in Mumbai, India, we are bringing this to reality across global locations, pillared on the expertise and commitment of 2000+ passionate people supporting the Aurionpro journey.
For further information, please contact:
Ninad Kelkar: [email protected]
Phone +91 22 4040 7070 [email protected] Fax +91 22 4040 7080 www.aurionpro.com CIN: L99999MH1997PLC111637
Aurionpro Solutions Limited
Synergia IT Park, Plot No. R-270 T.T.C. Industrial Estate, Gautam Nagar, Near Rabale Police Station, Rabale,Navi Mumbai 400701. MH-India.