Aurionpro Solutions to take full ownership of IT system integrator SC Soft

Aurionpro Solutions said that it has signed a deal to take full ownership of Singapore-based IT system integrator SC Soft by acquiring the remaining 49% stake for INR 38 crores ($4.99 million).

The Mumbai-based technology products and solutions provider has increased its stake in SC Soft to 90% with a commitment to acquire the remaining 10% by the year end.

Established in 2009, SC Soft is focused on end-to-end ticketing and payment solutions for public mass transportation, and cash handling solutions for banking industries.

Aurionpro Solutions said that it has also invested INR 9 crores in Aurionpro Toshi Automatic Systems Pvt Ltd. (ATASPL) and will close acquisition of a 51% stake therein by the end of this month. All the acquisitions will be financed via internal accruals, said Aurionpro Solutions.

Sanjay Bali — Aurionpro Solutions President said: “The market for automated fare collection (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 ATASPL 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.”