Aurionpro signs Strategic Investment Deal in the Smart Transport System Domain
Deepthi | Myequity news | Date : 17-10-2018 10:50:00 IST
Aurionpro Solutions pte Ltd., a wholly owned subsidiary of Aurionpro Solutions Limited, has entered into an agreement for acquisition of majority stake (51%) in SC Soft pte. Ltd. (SC Soft) a Singapore headquartered Automated Fare Collection (AFC) and smart city solution provider. Aurionpro will make Investment in tranches by subscribing to the fresh equity shares to be issued by the SC Soft and will acquire majority stake by December 2019 and will have a right to acquire balance 49% stake thereafter. Currently, Aurionpro is subscribing to 619,500 number of new equity shares issued by SC Soft which will take effective holding of Aurionpro to 26.70% of the total equity of SC Soft. The total investment for 51% will be USD 5mn. The Investments by Aurionpro will be used to expand R&D capabilities and ramp up global sales of SC Soft. The strategic investment by Aurionpro in SC Soft will further strengthen its offerings and leadership in the AFC Segment.
Paresh Zaverl, CMD Aurionpro said "SC soft has been our partner m executing Naida and Nagpur projects. They bring in world class capabilities, experience and thought leadership in the AFC domain. The acquisition of SC Soft will be a strategic milestone as it will help Aurionpro strengthen its leadership in the rapidly growing AFC Market as it will establish Aurionpro as a one stop shop having necessary end to end hardware and software required for the implementation of the AFC Systems." About Aurionpro Solutions Limited:
Automated Fare Collection Systems market has high growth potential driven by contactless payment solutions and smart phones. AFC is estimated to reach US$ 10.l billion by 2022, growing at a CAGR of 13.2% between 2016 and 2022 (Source: Allied Market Research, May 2016). The Asia Pacific market Is expected to be one of the fastest growing markets in terms of value, growing at a CAGR of 14.5% between 2016-2022 (Source: "World Automated Fare Collection System Market" Allied Market Research, May 2016).
Aurionpro Solutions Aurionpro is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently. It combines core domain expertise, thought leadership in innovation, security and leverages industry leading IP to deliver tangible business results for global corporations. Employing more than 1,200 domain and technology experts across North America, Asia and Europe, Aurionpro caters to a host of clients across BFSI, Telecom and Logistics industry.