Aurionpro completes acquisition of majority stake in SC Soft

Aurionpro Solutions announced that it had completed the acquisition of the majority stake of 51 per cent in SC Soft, a Singapore headquartered Automatic Fare Collection (AFC) and smart city solution provider.

The acquisition was signed and announced last year, by which Aurionpro was to invest US$5 million in agreed tranches for acquiring a majority stake of 51 per cent in SC Soft by subscribing to its equity shares. The investment has helped SC Soft in launching new products and upgrades in recent times and boosted its R&D as well. On the other hand, the acquisition has enabled backward integration in Aurionpro, helping it in establishing its place as one of the reliable suppliers for AFC across India.

Speaking on the announcement, Paresh Zaveri, the CMD of Aurionpro, stated that the combined force of the companies would enable them to tap into the rapidly growing smart mobility market, worldwide.

Aurionpro Solutions is a global technology solutions company engaged in offering IT and consultancy services. Apart from this, it is also engaged in the sale of equipment and software licenses.

By Wednesday's market close, the stock was trading at Rs 61.05, up by 3.91 per cent or Rs 2.30 per share. The 52-week high was recorded at Rs 159 and the 52-week low was recorded at Rs 54.10.