Aurionpro Solutions touches roof on acquiring Arya.ai
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Aurionpro Solutions is currently trading at its upper limit of Rs. 2437.45, up by 116.05 points or 5.00% from its previous closing of Rs. 2321.40 on the BSE.
The scrip opened at Rs. 2320.00 and has touched a high and low of Rs. 2437.45 and Rs. 2275.05 respectively. So far 1527 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 2500.00 on 10-Apr-2024 and a 52 week low of Rs. 334.80 on 21-Apr-2023.
Last one week high and low of the scrip stood at Rs. 2437.45 and Rs. 2253.00 respectively. The current market cap of the company is Rs. 6545.56 crore.
The promoters holding in the company stood at 29.91%, while Institutions and Non-Institutions held 7.00% and 63.08% respectively.
Aurionpro Solutions has acquired Mumbai-based Banking and Insurance focused PaaS startup ‘Arya.ai.’ With Arya.ai, Aurionpro will significantly enhance its portfolio of enterprise fintech offerings to expedite the adoption of AI that is responsible, accurate, and auditable, aligning strongly with the rapidly evolving demands of Banks and Insurers.
Under the terms of the agreement, Aurionpro Solutions will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platforms, and tailored industry solutions, to complement and strengthen Aurionpro’s existing industry leading portfolio. Arya.ai Enterprise AI solutions are trusted by 100+ Banks and Insurers across Asia.
The transaction comprises acquisition of shares held by the existing shareholders and subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment including secondary acquisition and fund infusion is approximately $16.5 million.
By integrating Arya.ai’s cutting-edge AI cloud platform, with Aurionpro's comprehensive suite of offerings, the company intends to create an industry leading Enterprise AI platform sharply focused on creating value for financial institutions globally. Leveraging Arya.ai’s expertise in AI solutions and comprehensive governance tools will greatly accelerate Aurionpro’s vision of creating the next generation of highly differentiated software that leads the industry in helping financial Institutions realize true business value from Enterprise AI.
Aurionpro Solutions is an advanced technology solutions company catering to the needs of the banking, mobility, payments and government sectors.
