New Delhi, Mar 3: Banking software and consulting company Aurionpro Solutions today said it has inked an agreement to acquire US-based SENA Systems Inc (SENA) and plans to raise about Rs 150 crore through preferential allotment.
''This will expand our customer base significantly and also strengthen our support capability in the North American market,'' Managing Director, Aurionpro, Amit Sheth said in a statement. SENA, with offshore delivery center in Pune, deals in Identity and Access Management (I&AM) space catering mainly to securities needs of BFSI sector. This acquisition will also help Aurionpro to expand its customer offerings significantly in Asia, besides expanding foot print to Japanese market, he said.
The transaction is subject to obtaining necessary regulatory approvals and reaching definitive agreements for stock purchase and management contracts, the statement said. Commenting on plans to raise about Rs 150 crores, Mr Sheth said that funds will be raised to repay the loans, expand deliver capabilities and capital towards further acquisitions and joint ventures.
''Funds will be raised through preferential allotment to Promoters including Promoter Group and other strategic investors and the process is expected to be completed in next 45 to 60 days subject to shareholders approval,'' he said.