Aurionpro Solutions to increase stake in SC Soft to 80%

Aurionpro Solutions Limited, a Mumbai-based technology products and solutions provider, said that it has signed an agreement to increase its stake in SC Soft to 80% in a deal worth $2.95m (INR 22 crores).

SC Soft is a Singapore-based IT system integrator that is focused on end-to-end ticketing and payment solutions for public mass transportation, and cash handling solutions for banking industries.

According to Aurionpro Solutions, SC Soft is looking at quick expansion of its business with various deal wins and is anticipated to be the growth engine for the future. Considering this, Aurionpro Solutions plans to increase its stake in the subsidiary in a phased manner up to 31 December 2022.

The deal will be executed through the Indian firm’s Singapore-based subsidiary —Aurionpro Solutions Pte. Ltd.

The Mumbai-based firm stated: “Aurionpro has strong cash flows and is comfortably expecting to fund this acquisition through internal accruals.

“We further wish to clarify that, none of the Promoter and Promoters group, Directors and Key Managerial Personnel of the Company and their relatives are concerned or interested, financially or otherwise, in the proposed acquisition.”