Aurionpro Solutions shares jump over 7% after acquiring Fintra Software; check details

As of 9:40 am, Aurionpro Solutions shares were up 3.9% with a day high of ₹1,469 and the market cap of ₹7,861 crore.

The company will pay ₹23 crore, including fixed and performance-based considerations for this acquisition, while the acquisition shall be completed within 30 days from the date of execution of the SPA.

Aurionpro stated that the acquisition is part of its strategy to deliver an integrated front-to-back solution for cash and trade management. The collaboration will streamline operations and strengthen the company’s value proposition in corporate banking through its client institutions.

Fintra Software specialises in developing software solutions tailored for the banking sector, particularly in wholesale banking areas like trade finance, supply chain finance, escrow and factoring. Additionally, Fintra offers front-end solutions designed for corporate banking clients, helping them optimise both domestic and foreign exchange earnings.

Commenting on the acquisition, Aurionpro’s Global CEO Ashish Rai said, “This acquisition marks an important step for Aurionpro as we double down on our strategic focus to create the future of Trade Finance technology and significantly expand our functional coverage in Transaction Banking,”.

The company will pay ₹23 crore, including fixed and performance-based consideration for this acquisition.

In the December quarter, the company reported a 26% YoY rise in net profit to ₹48 crore. Meanwhile, its revenue from operations increased 32% YoY to ₹306 crore.