Aurionpro to sell capital market technologies arm E2E Infotech to CameronTec
Aurionpro Solutions Ltd has signed definitive agreements with its long-term partner CameronTec Intressenter AB to sell its capital markets technologies business, housed under E2E Infotech, for an undisclosed amount.
The divestment of E2E is a part of the company's corporate strategy and targeted business objectives, the firm has said on Monday, adding that it will enable the company to focus more on its core business lines.
"While E2E was peripheral to Aurionpro's core business, it has been a consistently strong performer and has provided industry-leading services and solutions to its capital market customers. CameronTec's focus is fully aligned with E2E's value proposition and the complementary solution set will enable the company to provide an expanded suite of offerings to its combined client base and increase its competitive advantage," said Samir Shah, Aurionpro's global COO.
Shares of Aurionpro were trading at Rs 65 a unit, up 3.26 per cent in mid-day trades on the BSE in a strong Mumbai market on Monday.
Founded in 1997, Mumbai-headquartered Aurionpro Solutions is a publicly traded technology company that helps Fortune 1000 companies with domain-driven software and consulting offerings. Currently, the firm employs over 1,250 people across North America, Asia and Europe.
Last August, the firm acquired the global software product & services company SEEinfobiz Pvt Ltd and in July 2012, it also acquired UK-based Enline PLC, an implementer of Oracle identity management systems.
"Today's announcement is a natural and welcome progression resulting from several years of operational collaboration with E2E. This addition fits well with CameronTec's connectivity & trading business and is in-line with our customer interests. We see good growth opportunities to address both standard and bespoke solution integration when supporting CameronTec's product portfolio," said Anders Henriksson, CameronTec's CEO.
Nordic Capital-controlled CameronTec Intressenter is a big player in connectivity technology and trading infrastructure, powering a large user base of financial institutions. The firm has global offices in New York, Paris, London, Stockholm, Frankfurt, Chicago, Hong Kong and Sydney, among others. CameronTec's flagship product Catalys provides an integrated platform for operations, infrastructure and trading.
Nordic Capital is a key European PE firm focusing on investments in the Nordic region and Europe's German-speaking countries. In addition to a generalist buy-out approach, it also has a special focus on healthcare space.
(Edited by Sanghamitra Mandal)