Aurionpro Solutions rises on acquiring majority stake in Toshi Automatic Systems

9 Sep 2022 , 01:12 PM

Toshi Automatic Systems (TAS) is a Delhi based company and provider of innovative products and solutions in Mass Transit, Industrial and Public Safety segments. The company said that it has established itself as a leading global provider of next generation solutions in Mass Transit space and this acquisition will significantly enhance its capability to be an integrated end-to-end provider across the value chain. This acquisition, announced in FY22 upon signing of the definitive agreement was structured to complete in tranches through combination of subscription and acquisition, that is, partly by subscription of fresh equity to be issued by TAS and the rest by acquiring the equity stakes from existing shareholders, Aurionpro said in the press release. Accordingly, the company has now completed the acquisition of its majority stake in TAS, and the same has now been renamed as Aurionpro Toshi Automatic Systems (ATAS). The acquisition was valued at Rs 14 crore and was entirely funded through internal accruals, the firm stated. Paresh Zaveri, CMD of Aurionpro Solutions, said, ?This acquisition completes our strategy of vertical integration across the Mass Transit value chain and allows us to offer a highly differentiated end to end value proposition for our Transit clients across the world. ATAS brings in capabilities and operational set up for the manufacturing required for KIOSKs, data centres, and transit products such as automated flap gates, ticket vending machines, public safety doors for metro and highspeed train stations and turnstile, and flap gates for bus and Metro-Neo stations and fire safety gates.? He further added, ?This acquisition will further strengthen our position as an integrated player, particularly in the Data Centre (DC) and Automated Fare Collection (AFC) businesses. The combination of cutting edge technology solutions in Aurionpros chosen segments and ATAS manufacturing capabilities will create a formidable proposition in the market, well positioned to take advantage of the Make in India initiative heralded by the Government.? Aurionpro Solutions is an advanced technology solutions company catering to the needs of the banking, mobility, payments and government sectors. The company reported 65.7% rise in consolidated net profit to Rs 23.54 crore on a 25.7% increase in net sales to Rs 145.52 crore in Q1 FY23 over Q1 FY22. Powered by Capital Market – Live News