Stock Report

CAMS acquires majority stake in Think Analytics

Posted On : 2023-03-05 20:59:02( TIMEZONE : IST )

Computer Age Management Services Limited (CAMS), India's leading technology infrastructure and services provider for financial services industry catering to mutual funds, alternative investment funds, portfolio managers, pension funds and the insurance industry announced the acquisition of a majority stake in Think Analytics India Private Limited (Think360 AI), a full-stack AI and data sciences firm, which provides innovative solutions using digital technologies like advanced analytics, AI/ML and mobile & cloud computing.

Founded in 2013, Think360 AI offers Software as a service (SaaS) based products, data science and technology advisory services to market-leading firms in India and across the globe. It is one of the pioneers in using alternate data for financial inclusion and has recently launched analytical solutions within the Account Aggregator framework. Think360 AI's flagship products like Algo360, KwikID, AAmaze, and FlowXpert cater to clients in the BFSI segment with primary applications around Digital Lending, Digital Onboarding, Account Aggregation and Process Integration.

While CAMS's platform for mutual funds and alternatives serves over 300 funds across all facets of the operations of investor servicing, fund accounting and digital and value-added services, the company forayed into the path-breaking Account Aggregator arena via wholly owned subsidiary CAMS Financial Information Services. In a short span, the CAMSfinserv AA platform has onboarded over forty enterprise clients across the financial services segment.

Commenting on the acquisition, Mr. Anuj Kumar, Managing Director-CAMS, said," With AI, Analytics, and data-led technologies becoming mainstream to solve problems, and to transform and grow businesses, we found investing into Think360 AI as a good opportunity that will assist CAMS in building overall market reach and drive innovation in the rapidly growing BFSI and capital markets space. The product and solution suite of Think360 AI is a great fit for our Account Aggregator offering, which will help us solidify our position as a digital public infrastructure. We were also impressed by the founding team's journey of having bootstrapped, built and scaled the company successfully."

On this development, Mr. Amit Das, Co-Founder & CEO of Think360 AI said, "The Think360 AI team is excited to be a part of CAMS group, a company that has attained sustained leadership in the financial technology domain. The synergy between CAMS and Think360 AI will essentially focus on bringing high-impact innovation across the financial services landscape and creating market-leading advantages for our clients. This will also fortify our ability to tap the immense potential of the Account Aggregator market."

"Collaboratively, we look forward to driving transformation in a true sense with new-generation technologies" he added.

Shares of Computer Age Management Services Limited was last trading in BSE at Rs. 2311.95 as compared to the previous close of Rs. 2255.75. The total number of shares traded during the day was 5552 in over 1041 trades.

The stock hit an intraday high of Rs. 2349.00 and intraday low of 2257.15. The net turnover during the day was Rs. 12863293.00.