CAMS to buy majority stake in Think Analytics India
By MYBRANDBOOK
The registrar and transfer agent of mutual funds, Computer Age Management Services has inked an agreement with Mumbai-based AI and data science firm Think Analytics (Think360 AI) to buy a majority stake in it.
is mentioned in a regulatory filing that CAMs will take 55.42% of the total paid-up share capital of Think360 AI through a secondary acquisition, which is expected to be completed before April 10, 2023. After the completion of the acquisition, Think360 AI will become a subsidiary of CAMS and subsidiaries of Think360 AI, Think Analytics Consultancy Services and Think360 AI, Inc., will become step-down subsidiaries of CAMS. The deal’s financial details were not disclosed.
“The Company will also be entitled to acquiring the remaining shares in phases in accordance with the terms stipulated in the definitive agreements,” it added.
CAMS MD, Anuj Kumar said that investing in Think360 AI is a good opportunity to assist CAMS in building overall market reach in the BFSI and capital markets space He added that the product and solution suite of Think360 AI is a great fit for CAMS’ recently launched “Account Aggregator” offering.
Founded in 2013, Think360 AI offers software-as-a service (SaaS)-based products, data science, and technology advisory services to companies in the BFSI, Pharma and retail sectors. TAIPL posted a consolidated turnover of ₹30.87 crore in FY22. In the first nine months of FY23, its consolidated revenue stood at ₹23.51 crore.
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