Computer Age Management Services Ltd. (CAMS), has acquired 55.42% stake in Pune-based Think Analytics India Pvt. Ltd. (TAIPL) by way of a secondary acquisition for an undisclosed sum.
The deal is predicted to be accomplished by April 10. Post completion, TAIPL shall change into a CAMS subsidiary, whereas its subsidiaries (Think Analytics Consultancy Services Pvt. Ltd. and Think 360 AI, Inc.) shall change into step-down subsidiaries, CAMS stated in a regulatory submitting.
CAMS may even be entitled to buying the remaining shares in phases in accordance with the phrases stipulated in the definitive agreements.
Founded in 2013, TAIPL affords software program as a service-based merchandise, information science and expertise advisory providers to market-leading companies in India and throughout the globe. It clocked a income of ₹24 crore as much as December 2022 as towards ₹31 crore for FY22.
CAMS MD Anuj Kumar stated that the acquisition would assist his firm in constructing total market attain and drive innovation in the BFSI and capital markets house. The product and answer suite of Think360 AI is a superb match for account aggregator providing, he added.
