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Stock Report
Aurionpro Solutions announces acquisition of E2E Infotech Ltd
Posted On : 2007-04-25 01:54:35( TIMEZONE : IST )
Aurionpro Solutions Ltd has announced that the Company has entered into a Memorandum of Understanding (MoU) to acquire Consulting Services provider E2E infotech Ltd. E2E infotech is headquartered out of London and is a partner and majority-owned subsidiary of Orc Software AB (SSE: ORC).
Orc Software, provides leading technology for advanced trading, market making and brokerage to the global financial industry, and is listed on the Stockholm Stock Exchange.
E2E infotech, with a team of over 35 people, specialises in the area of developing quality components for Value Added functions for front, middle and back office integration for market making, proprietary trading and brokerage areas dealing with equity and equity derivatives trading. E2E provides E2E panacea, a suite of standard, out-of-the-box integration components, as well pas value added customised development and other professional services to its customers. E2E has worked with over 40 financial institutions across Europe, USA and Asia, and has extensive experience in the area of integrating the Orc system with existing customer systems. E2E is also currently developing Pricing Model and Risk Analysis components for structured and complex derivatives instruments.
Commenting on the acquisition, Mr. Amit Sheth, Managing Director of the Company said: "E2E has an excellent team with deep domain knowledge in the BFSI sector and with over 40 clients across Europe, USA and Asia, E2E will help expand aurionpro operations in Europe. Additionally, there is great synergy in offering E2E panacea together with Aurionpro's treasury product, and expanding E2E's operations where we have established infrastructure and delivery capabilities, particularly in South East Asia, the USA and Middle East Asia.
The transaction is subject to a satisfactory due diligence, obtaining necessary regulatory approvals and reaching definitive agreements for stock purchase and management contracts.
