Biznextindia : Aurionpro Solutions Ltd (Aurionpro) has announced the completion of the transaction for the acquisition of majority stake (51%) in Toshi Automatic Systems (TAS), a Delhi based company and provider of innovative products and solutions in Mass Transit, Industrial and Public Safety segments. Aurionpro has established itself as a leading global provider of next generation solutions in Mass Transit space and this acquisition will significantly enhance its capability to be an integrated end-to-end provider across the value chain. This acquisition, announced in FY22 upon signing of the definitive agreement, was structured to complete in tranches, through combination of subscription and acquisition, that is, partly by subscription of fresh equity to be issued by TAS and the rest by acquiring the equity stakes from existing shareholders. Accordingly, Aurionpro has now completed the acquisition of its majority stake in TAS, and the same has now been renamed as Aurionpro Toshi Automatic Systems (ATAS). The acquisition, valued at INR 14 Cr., was entirely funded through internal accruals.
“This acquisition completes our strategy of vertical integration across the Mass Transit value chain and allows us to offer a highly differentiated end to end value proposition for our Transit clients across the world. ATAS brings in capabilities and operational set up for the manufacturing required for KIOSKs, data centres, and transit products such as automated flap gates, ticket vending machines, public safety doors for metro and high[1]speed train stations and turnstile, and flap gates for bus and Metro-Neo stations and fire safety gates. This acquisition will further strengthen our position as an integrated player, particularly in the Data Centre (DC) and Automated Fare Collection (AFC) businesses. The combination of cutting edge technology solutions in Aurionpro’s chosen segments and ATAS manufacturing capabilities will create a formidable proposition in the market, well positioned to take advantage of the ‘Make in India’ initiative heralded by the Government” Paresh Zaveri, CMD – Aurionpro, while announcing this acquisition said.