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.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
Autodesk continually pushing the boundaries in the Design and
Autodesk’s vision is of a better world designed and made for all. It inte
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
LUMINOUS POWER TECHNOLOGIES PVT. LTD.
BEETEL TELETECH LTD.
ALPHAMAX TECHNOLOGIES PVT. LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Icons Of India : AALOK KUMAR
Aalok Kumar is celebrated as a global leader and recipient of the Peop...
Icons Of India : Arundhati Bhattacharya
Arundhati Bhattacharya serves as the Chairperson and CEO of Salesforce...
Icons Of India : GAUTAM ADANI CHAIRMAN ADANI GROUP
Gautam Adani is the Founder and Chairman of the Adani Group, which ran...
PARTNER SPEAKERS
PSU
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
NPCI - National Payments Corporation of India
NPCI is an umbrella organization for operating retail payments and set...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Steve Sanghi, Executive Chair, Microchip
Steve Sanghi, the Executive Chair of Microchip Technology, has been a ...
Indian Tech Talent Excelling The Tech World - PADMASREE WARRIOR, Founder, President & CEO - Fable
Padmasree Warrior, the Founder, President, and CEO of Fable, is revolu...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
