your password has been reset successfully, Please login again.

Aurionpro Solutions to acquire 51% stake in Singapore-based SC Soft

The Mumbai-based enterprise security company will make the investment through its wholly-owned subsidiary Aurionpro Solutions Pte Ltd.
BY BEx Bureau
BusinessEx
Oct 17, 2018

Aurionpro Solutions will acquire a 51% stake in SC Soft Pte Ltd, a Singapore-based smart city solutions provider, for $5 million in cash.

The Mumbai-based enterprise security company will make the investment in tranches through its wholly-owned subsidiary Aurionpro Solutions Pte Ltd.It will buy the majority stake by December 2019.

With this acquisition, Aurionpro will consolidate its leadership in the smart transport system domain. It will use the proceeds from the deal to expand its research and development capabilities. The company will further ramp up the global sales of SC Soft.

Paresh Zaveri, Chairman and Managing Director of Aurionpro, said, "The acquisition of SC Soft will be a strategic milestone as it will help Aurionpro strengthen its leadership in the rapidly growing AFC market."

Founded in 2009, SC Soft specialises in developing end-to-end ticketing and payment solutions for public mass transportation.It has offices in Singapore, Canada, Malaysia and India.

Aurionpro is providing enterprises with business solutions in cybersecurity, digital innovation and banking. It employs more than 1,200 domain and technology experts across North America, Asia and Europe.

Please add your Comment
SIMILAR News
March 20, 2019
The South Korean automotive companies, Hyundai Motors and Kia Motors on Tuesday proclaimed that they ...More
By Jaspreet Kaur
March 20, 2019
On Wednesday’s morning, the shares of the IT sector are trading in the positive spectrum. ...More
By Jaspreet Kaur
March 16, 2019
The smartphone maker, Xiaomi has taken this decision in order to surge the sales ...More
By Jaspreet Kaur
March 16, 2019
Reliance Jio Infocomm Limited, a telecommunications company may release 5G services in the latter ha ...More
By Jaspreet Kaur
March 14, 2019
The investing groups along with Softbank Corp and Toyota Motor Corp are deciding on to endow money u ...More
By Jaspreet Kaur
March 14, 2019
The present deal has ruled out adversaries of OYO that are, Treebo Hotels-financed by SAIF Partners ...More
By Jaspreet Kaur
March 13, 2019
With this move, the conglomerate company has incremented 5-10 points in respect of cost that the com ...More
By Jaspreet Kaur
March 13, 2019
The decision has been taken considering the succession planning idea and owing to which, Rahul Bajaj ...More
By Jaspreet Kaur
March 12, 2019
JMC Projects, an Indian Construction and Engineering Company, revealed that it has accumulated contr ...More
By Jaspreet Kaur
March 12, 2019
By launching daycare facility, BOB has become the first bank amid public sector banks to offer this ...More
By Jaspreet Kaur
March 11, 2019
By joining the PSB platform, the private bank, Kotak Mahindra Bank will be rendering loans to MSME e ...More
By Jaspreet Kaur
March 11, 2019
The tech giant is dire in adapting anti-snooping policy that will, in turn, safeguard iPhone users’ ...More
By Jaspreet Kaur