Aurionpro Solutions announces acquisition of Coban Corporation, USA

Aurionpro Solutions Ltd has announced that the Company´s intent to acquire 100% control in Coban Corporation (Coban), based at San Francisco, USA, in an all cash deal. Coban provides high end enterprise web technologies and enterprise integration technologies to Fortune 1000 clients focusing on the Web Portal and Enterprise Content Management Space.

Commenting on the proposed acquisition Mr Amit Sheth, Managing Director, of the Company said "Coban’s acquisition shall provide an added impetus to AurionPro’s growth plans in the US markets. AurionPro shall endeavor to leverage Coban’s strong partnership with Vignette and a clientele comprising Fortune 1000 companies to cross sell its solutions and services in a complementing manner."

Further elaborating on Company´s acquisition led growth strategy; Mr Sheth said "With the earlier acquisition of SPS Corporation, we already have on the ground presence of over 100 qualified professionals. Coban’s team with its rich experience in working on high end, large and complex products in global environment synergistically complements the bouquet of existing skill sets and capabilities thereby offering the US customers a unique value by adding offshore delivery capabilities to already strong onsite presence."

A definitive agreement to conclude and consummate the transaction is expected to be signed within 45 days.

Source : Equity Bulls

Keywords