Aurionpro signs up to acquire balance stake in SC Soft, making it a wholly owned subsidiary

Biznextindia : Aurionpro on Friday announced increase in its stake in SC Soft Pte Ltd (SC Soft) upto 90% with a commitment to complete acquisition of balance 10% by December 31, 2022. This increase in stake enables complete management control and integration of SC Soft with Aurionpro. The deal is valued at US$ 4.99 Million (approximately INR 38 Crores). Further, Aurionpro has also invested in Aurionpro Toshi Automatic Systems Pvt Ltd. (ATASPL) and will complete acquisition of 51% stake therein by the end of this month. All these acquisitions will be funded through internal accruals.

Mr. Sanjay Bali – President, Aurionpro on the acquisition said that the market for AFC business is growing rapidly and we have won some prestigious orders in this segment this year. This acquisition will fully integrate SC Soft with Aurionpro. Further, we will also complete acquisition of controlling stake in Aurionpro Toshi Automatic Sytems Pvt. Ltd by the end of this quarter which will strengthen our profile as an only integrated player in the AFC segment and we can leverage this position to seize immense opportunities in the growing market.