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The all cash transaction worth €10 million Euros will enable Aurionpro acquire a 100% stake in Fenixys. This will also enable the company to continue its expansion into the European and Middle East market, using its banking and fintech strategy.
Based out of Paris, Fenixys has offices in the UK, Denmark and the Middle East. It is known for its expertise in advisory, project management, enterprise architecture and MUREX services. Fenixys SAS had generated €8 million in revenue for financial year 2024 with strong margins.
This transaction does not require any government or regulatory approval and is likely to be completed by the end of January 2025, Aurionpro said.
Fenixys will augment Aurionpro’s offerings and continue to provide strategic advisory and solutions for challenges in the capital markets sector, Aurionpro said in its exchange filing.
“Aurionpro and Fenixys share a common vision towards becoming partner of choice for global banks and financial institutions through our focus on innovation, excellence and client success,” Aurionpro CEO Ashish Rai said.
In fact, Rai had spoken about eyeing Europe as a potential expansion target for Aurionpro during his interaction with CNBC-TV18 in October. He had highlighted that the company’s banking business is expanding at a rate of over 50%, driven by strong momentum in the Middle East and Southeast Asia.
Eric Rosso, the founder and CEO of Fenixys said that this positions the company uniquely to create significant value for its clients on a global scale.
Shares of Aurionpro Solutions ended 3.1% lower on Monday at ₹1,739.1 and has corrected over 10% from its recent peak of ₹1,991. However, the stock has gained close to 60% so far in 2024.
