Aurionpro signs agreement to increase stake in SC Soft to 80%

Aurionpro announces signing of an agreement for the acquisition of further stake in its subsidiary SC Soft Pte Ltd. ("SC Soft"). The transaction involves acquisition of further 29% stake in SC Soft from the existing shareholders, in various tranches upto 31st December 2022. This acquisition is pursuant to the right available to the Aurionpro under the Subscription and Shareholders' Agreement signed for acquisition of 51% stake in 2018.

The acquisition of 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 stake in SC Soft will strengthen this position with increased synergies and capabilities.

Mr. Sanjay Bali, EVP, Aurionpro on the acquisition said that "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."

Shares of Aurionpro Solutions Limited was last trading in BSE at Rs. 218.80 as compared to the previous close of Rs. 212.85. The total number of shares traded during the day was 5023 in over 297 trades.

The stock hit an intraday high of Rs. 223.45 and intraday low of 217.95. The net turnover during the day was Rs. 1109515.00.

Source : Equity Bulls

Keywords

AurionproSolutions INE132H01018 ITSoftwareProducts SCSoft Acquisition