Sensex Today Live: Aurionpro Solutions acquires Arya.ai for $16.5 million
In a strategic move to enhance its enterprise fintech offerings, Aurionpro Solutions has acquired Mumbai-based Banking and Insurance focused PaaS startup, Arya.ai, for $16.5 million. This acquisition will see Aurionpro Solutions acquiring a majority stake (67%) in Arya.ai, bringing in expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, and tailored industry solutions.
The acquisition is aimed at expediting the adoption of AI that is responsible, accurate, and auditable, catering to the evolving demands of Banks and Insurers. The transaction includes the acquisition of shares held by existing shareholders and the subscription of new equity capital in the company, making it an all-cash deal.
Aurionpro Solutions expressed confidence that the addition of Arya.ai’s products and expertise will complement and strengthen its existing portfolio, positioning the company as a leader in the industry. This move is expected to drive innovation and growth in the fintech sector, showcasing the company’s commitment to staying at the forefront of technological advancements.
