Computer Age Management Services Ltd. (CAMS), a mutual fund transfer agency, on Sunday, announced that it has signed a definitive agreement to acquire a 55.42 percent stake in Think Analytics India Pvt. Ltd. (Think360 AI), an artificial intelligence and data sciences firm.
Without disclosing the value of the transaction, the company said that the acquisition of Think360 AI shares will be done at a mutually agreed pre-money enterprise valuation.
The company also said that the all-cash transaction is expected to be completed by April 10, 2023.
Explaining the rationale behind the acquisition, CAMS said that the product and solution suite of Think Analytics is a great fit for the account aggregator offerings of the company, which will help it solidify its position as a digital public infrastructure and services provider.
Founded in 2013, Think360 AI offers Software as a Service (SaaS) based products, data science, and technology advisory services to market-leading firms in India and across the globe.
Think360 AI’s flagship products like Algo360, KwikID, AAmaze, and FlowXpert cater to clients in the BFSI (banking, financial services, and insurance) segment with primary applications around digital lending, digital onboarding, account aggregation, and process integration.
Shares of CAMS are trading 0.18 percent higher at Rs 2,316.95.
