| Aurionpro Solutions announced the strategic acquisition of Mumbai-based Banking and Insurance focused PaaS startup, Arya.ai. With Arya.ai,
Aurionpro will significantly enhance its portfolio of enterprise fintech offerings to expedite the adoption of AI that is responsible, accurate, and auditable, aligning strongly with the rapidly evolving demands of Banks and Insurers.
Under the terms of the agreement, Aurionpro Solutions will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation,
PaaS, Autonomous AI Platforms, and tailored industry solutions, to complement and strengthen Aurionpro's existing industry leading portfolio. Arya.ai Enterprise AI solutions are trusted by 100+ Banks and Insurers across Asia.
The transaction comprises acquisition of shares held by the existing shareholders and subscription of new
equity capital in the company. This will be an all-cash deal. The aggregate investment including secondary
acquisition and fund infusion is approximately 16.5 MN USD |