Computer Age Management Services Ltd. (CAMS), has acquired 55.42% stake in Pune-based Think Analytics India Pvt. Ltd. (TAIPL) through a secondary acquisition for an undisclosed sum.
The deal is expected to be completed by April 10. Post completion, TAIPL shall become a CAMS subsidiary, while its subsidiaries (Think Analytics Consultancy Services Pvt. Ltd. and Think 360 AI, Inc.) shall become step-down subsidiaries, CAMS said in a regulatory filing.
CAMS will also be entitled to acquiring the remaining shares in phases in accordance with the terms stipulated in the definitive agreements.
Founded in 2013, TAIPL offers software as a service-based products, data science and technology advisory services to market-leading firms in India and across the globe. It clocked a revenue of ₹24 crore up to December 2022 as against ₹31 crore for FY22.
CAMS MD Anuj Kumar said that the acquisition would help his company in building overall market reach and drive innovation in the BFSI and capital markets space. The product and solution suite of Think360 AI is a great fit for account aggregator offering, he added.