Saicon Consultants Acquires IT Services Unit of Aurionpro Solutions
Sale of IT Services business unit for USA
The IT services business for USA generated approximately INR 93 crores for the first nine months of fiscal year FY 15-16. The sale price for the business unit concluded by Aurionpro Solutions Inc., a wholly owned US arm of Aurionpro Solutions Ltd., stood at about USD 10 million or INR 66 crores. These include upfront payments, deferred payments and working capital. The proceeds of the sale will be used towards working capital and accelerating debt reduction.
“As we constantly evolve to align to market and client demands, we have built three core businesses that are well positioned for accelerated growth,” said Samir Shah, CEO, Aurionpro. “Transitioning ownership of our IT services business to Saicon is clearly a win-win for clients as well as both of our businesses. Saicon has a very good track record in providing professional services and we believe that our IT Services clients will benefit greatly from this deal.”
For more details on the acquisition, visit aurionpro.com.