Aurionpro Solutions Limited has declared its acquisition of Arya.ai, aiming to enrich its assortment of enterprise FinTech solutions with advanced AI technologies.
This move by Aurionpro seeks to expedite the integration of responsible, precise, and auditable AI solutions across various financial sectors.
In this deal, Aurionpro will secure a majority stake (67%) in Arya.ai through an all-cash transaction. The agreement encompasses the purchase of shares from existing shareholders and the infusion of new equity capital into Arya.ai.
The total investment, covering both secondary acquisition and capital injection, amounts to approximately $16.5 million.
The amalgamation of Arya.ai’s AI cloud platform with Aurionpro’s suite of offerings is poised to catalyze the development of an industry-leading Enterprise AI platform tailored to meet the requirements of financial institutions globally.
This strategic alignment is expected to deliver substantial value for both companies and their clientele.
In a statement regarding the acquisition, Ashish Rai, CEO of Aurionpro Solutions, expressed his excitement about the partnership, stating, “The acquisition of Arya.ai aligns Aurionpro’s portfolio of industry-leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers. We are thrilled about collaborating with Arya.ai and our broader ecosystem partners to develop the foremost Enterprise AI platform for the global financial industry.”
Established in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been at the forefront of harnessing deep learning and AI technologies in the banking and insurance sectors.
The company’s innovative Platform-as-a-Service (PaaS) offerings, including Arya API, Libra, and AryaXAI, are designed to enhance AI governance and facilitate autonomous transactions.
This acquisition represents a significant milestone in the FinTech and AI landscapes, highlighting the increasing importance of AI-powered solutions in driving innovation and efficiency across financial services.
Vinay Kumar, CEO/Founder of Arya.ai, added, “Our decade-long experience in building tools/platforms for deep learning has enabled us to construct a truly specialized AI Operating System for Banking and Insurance. Together with Aurionpro, we are poised to build a new generation of Enterprise AI software for Banks and Insurers that seamlessly embeds AI, augmenting tasks or Autonomous Agents capable of handling entire transactions.”
Source: fintech.global
