Aurionpro Solutions acquires loan management system, Omnifin
By Gloria Mathias
Aurionpro has announced the purchase of Omnifin, a comprehensive loan management system to enhance its portfolio of industry Lending Solutions.
Omnifin is a comprehensive loan management system in the Indian domestic market, from A S Software Services, a company based in Noida, India.
This acquisition covers the purchase of the entire business, as a going concern, covering all the assets & liabilities of the target business including the intellectual properties, 150+ employees & contracts and such transfer and payment of consideration will be governed by the Business Transfer Agreement (BTA) between the parties. The total deal is valued at close to INR 82 Crores ($9.85 million)
Abhijit Mittra, CEO – Managing Director of A S Software Services Private Limited said, “We are delighted with this deal and are excited to be part of the Aurionpro family as we believe we share common values and culture. We can leverage Aurionpro’s market position and capabilities to take this business to newer markets and expand our share in this rapidly growing market. We are thankful to Aurionpro for this deal, and we look forward to a great future for the product, our clients and our team.”
Ashish Rai, Vice Chairman said, “We are excited to announce this acquisition as it allows us to significantly accelerate our strategic plan to create the most comprehensive portfolio of lending solutions globally. Omnifin is a cutting-edge, proven and comprehensive product suite which fills an identified gap in our lending solutions footprint. I am confident that Aurionpro’s industry-leading position in Asia and Omnifin’s deep product and talent will make this a tremendous win-win deal for both parties. We will sharply focus on leveraging strengths from both businesses to rapidly scale this business by expanding in India as well as international markets.”
Aurionpro Solutions is an advanced technology solutions company catering to the needs of the Banking, Mobility, Payments, and Government sectors.
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