Aurionpro Solutions to acquire SPS Corporation, USA

Aurionpro Solutions Ltd has announced a new acquisition in the US:

The Company has signed an MOU to acquire SPS Corporation, USA, a profit making IT company with a team of 93 people and a revenue of USD 92 mn for the trailing twelve months, ending March, 2006. As per the terms of this MOU, the acquisition would be funded through a mix of cash and stock. Commenting on this deal, Mr Amit Sheth said, "Acquisition of SPS would accelerate aurionPro´s US plans and bring with it, the sales team, customers and further beef up on the ground presence." Expanding further on the rationale for this acquisition Mr Sheth added "This acquisition will help achieve the size and scale to launch aurioPro’s banking suite in the US market next year and elevate company into a position to compete for major contracts globally with fortune 1000 clients besides opening up off shoring opportunities with SPS’s current Clients".

Source : Equity Bulls

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