Aurionpro acquires Integro Technologies

Aurionpro Solutions Ltd has informed that the Company has entered into an all cash deal to acquire 100% control in Integro Technologies Pte. Ltd. (Integro) a leading Banking products company headquartered in Singapore. Integro's product portfolio include, products in the areas of Loan origination, Collateral Management for Basel II Compliance and Internet banking.

Headquartered in Singapore, Integro has development centers in Singapore and Malaysia and marketing offices in Thailand. Integro has product development and implementation team of over 110 people and over 20 customers across multiple countries across Asia. Integro's contemporary & cutting edge products suite include; The Smart Lender Suite and The Internet Banking Suite. The SmartLender suite addresses the Loans business of banks through Smart Lender Retail & SmartLender Corporate. It also helps banks manage their Collaterals effectively and aid them for Basel II compliance, the Internet Banking Suite enables banks to reach out to their customers, both retail and corporate, more effectively and efficiently. Integro’s current set Of customers include Global banks like Standard Chartered, ABN Amro, CITI, Regional banks like UOB, OCBC, MayBank, Bank Mandiri, etc.

Commenting on the acquisition, Mr. Amit Sheth, Managing Director of the Company said; "This is a major step for us towards making aurionPro number one banking products and services company across Asia. Integro has an excellent product portfolio with significant number of major customers across Asia Pacific region and like aurionPro; Integro’s product Suite is based on J2EE architecture. This will help aurionPro in offering integrated products to the customer quickly across the region and to expand it to other markets. Commenting further Mr. Sheth said, with greatly strengthened product portfolio and expanded customer offerings, we will be able to accelerate our growth significantly across Asia and create a strong platform for launching it to Europe market next year. He further commented that, "There is a great opportunity to enhance offerings within existing customers of Integro and aurionPro and collectively we will be able to ramp up the relationships much faster. He further added that there is a great synergy in offering Integro Internet banking portfolio together with Aurionpro's cash management product, and expanding Integro’s operations where we have established infrastructure and delivery capabilities, particularly in, Middle East Asia."