Aurionpro takes stake in Toshi Automatic Systems to boost mass transit offerings
Aurionpro Solutions Ltd has completed the previously announced acquisition of a 51% stake in the Delhi-based Toshi Automatic Systems (TAS) to boost its presence in the mass transit space.
Toshi Automatic Systems specializes in offering products and solutions in mass transit, industrial, and public safety segments.
Based in Mumbai, Aurionpro Solutions is already an established player in the mass transit segment and the deal will allow the company to become an integrated end-to-end provider across the value chain.
With the completion of the acquisition, TAS has been renamed Aurionpro Toshi Automatic Systems (ATAS).
Aurionpro Solutions has funded the acquisition, which was valued at Rs 14.5 crore and originally announced in November 2021, solely through internal accruals.
Paresh Zaveri — Aurionpro Solutions CMD said: “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 highspeed 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.”