AurionPro Solutions, a wholly owned subsidiary of Aurionpro Solutions Umrted (Aurionpro), has entered into an agreement for acquisition of maJonty stake (51 %) In SC Soft (SC Soft) a Singapore headquartered Automated Fare Collection (AFC) and smart city solution provider. Aurlonpro will make Investment in tranches by subscribing to the fresh equrty shares to be issued by the SC Soft and will acqwre majority stake by December 2019 and wrll have a right to acquire balance 49% stake thereafter.

Currently, Aunonpro is subscribing to 619,500 number of new equity shares issued by SC Soft which will take effective holding of Aurionpro to 26.70% of the total equrty of SC Soft. The total investment for 51% will be USD Smn. The investments by Aurlonpro will be used to expand R&0 capabilities and ramp up global sales of SC Soft.

Paresh Zaverl, CM0 Aurionpro said, "SC soft has been our partner in executing No1da and Nagpur projects. They bring in world class capabilities, experience and thought leadership m the AFC domain. The acquisition of SC Soft will be a strategic milestone as It will help Aurionpro strengthen Its leadership in the rapidly growing AFC Market as It wlll establish Aurionpro as a one stop shop havmg necessary end to end hardware and software required for the implementation of the AFC Systems.''

Shares of the company declined Rs 2.8, or 1.71%, to trade at Rs 161.00. The total volume of shares traded was 3,289 at the BSE (1.14 p.m., Wednesday).