New Delhi, Technology firm OrionPro Solutions on Friday said it has acquired platform-as-a-service (PaaS) startup Arya.AI for Rs 135 crore and acquired 6 per cent stake in the Mumbai-based firm.
A statement from the company said the acquisition is aimed at empowering next-generation enterprise Artificial Intelligence (AI) platforms for financial institutions around the world.
"AurionPro Solutions Limited has acquired a majority stake (67 percent) in Arya.AI. This acquisition will bring products and expertise in Artificial Intelligence Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platform, a tailored industry solution, which will complement AurionPro. “And will strengthen the existing industry-leading portfolio,” it said.
The transaction includes acquisition of shares held by existing shareholders and subscription of fresh equity capital in the company, according to the statement.
"This is an all-cash deal. The total investment including secondary acquisition and fund infusion is approximately US$16.5 million," the statement further said.
A statement from the company said the acquisition is aimed at empowering next-generation enterprise Artificial Intelligence (AI) platforms for financial institutions around the world.
"AurionPro Solutions Limited has acquired a majority stake (67 percent) in Arya.AI. This acquisition will bring products and expertise in Artificial Intelligence Deep Learning, Intelligent Automation, PaaS, Autonomous AI Platform, a tailored industry solution, which will complement AurionPro. “And will strengthen the existing industry-leading portfolio,” it said.
The transaction includes acquisition of shares held by existing shareholders and subscription of fresh equity capital in the company, according to the statement.
"This is an all-cash deal. The total investment including secondary acquisition and fund infusion is approximately US$16.5 million," the statement further said.
