Mumbai November 23, 2009.
Aurionpro Solutions Ltd. (NSE: AURIONPRO, BSE: 532668), a leading banking products and services company announced today that the company has entered into an agreement to acquire Silicon Tech Corporation in an all cash deal, which is doing business as eTechnosoft and is a dynamic, rapidly growing software consulting firm providing a broad range of technological expertise to Fortune 500 and Blue Chip companies in the US.
Silicon Tech Corporation
Founded in 1998 and located in Santa Clara, California, eTechnosoft serves many of the
same verticals on which Aurionpro's core business is focused, including banking, Payments,
Internet and Security and will significantly enhance the company's industry presence.
eTechnosoft provides IT Consulting and Project Outsourcing services to customers in the U.S. It has proven expertise in Business Intelligence, Analytics and Internet Applications combined with various technology expertise including open source technologies. Its delivery methodologies are based on best practices that promote efficient deployment and long-term scalability.
Dan Valia, CEO of Silicon Tech and eTechnosoft, said, "Our business is based on customer satisfaction and referrals. eTechnosoft enjoys long term client relationships with large global companies and we will be able to leverage AurionPro's established offshore development centers and product development resources to deliver new services and expand our revenue opportunities within established clients."
Mr. Amit Sheth, Managing Director of Aurionpro said, "eTechnosoft has achieved
tremendous success and enjoys a high retention rate with a very diverse customer base
that represents great cross-selling opportunities ahead for both organizations. The company
has developed a recurring revenue-based business model that fits well with our business
goals. eTechnosoft will benefit from Aurionpro's established infrastructure and delivery
capabilities, particularly in the US and India."
About Aurionpro
Aurionpro Solutions Ltd. (NSE: AURIONPRO, BSE: 532668) is headquartered in Mumbai and
delivers sophisticated solutions that help companies accelerate and automate their
operations. Since 1997, the company has created and delivered comprehensive solutions to
streamline corporate banking, treasury, risk management, governance and compliance, and
more. For additional information, visit www.aurionpro.com.
For further information and queries please contact on;
Tel: + 91 22 6770 7700
Email: info@aurionpro.com
For Aurionpro Solutions Limited
Amit Sheth
Managing Director