Aurionpro Solutions acquires Arya.ai for Rs 135 cr, obtains 67% stake

New Delhi: Technology firm Aurionpro Solutions on Friday said it has acquired platform-as-a-service (PaaS) startup Arya.ai for Rs 135 crore and obtained a 67 per cent stake in the Mumbai-based firm.

The acquisition is aimed at powering the next-generation enterprise Artificial Intelligence (AI) platforms for financial institutions worldwide, a company statement said.

"Aurionpro Solutions Ltd has acquired a majority stake (67 per cent) 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," it said.

The transaction includes the acquisition of shares held by the existing shareholders and the subscription of new equity capital in the company, according to the statement.

"This is an all-cash deal. The aggregate investment including secondary acquisition and fund infusion is approximately USD 16.5 million," the statement further said.