CAMS expands digital solutions portfolio with majority stake acquisition in Think Analytics

MUMBAI : Computer Age Management Services Ltd (CAMS), one of India’s leading technology-driven financial infrastructure and services providers, announced on Sunday that it acquired a 55.42% stake in Think Analytics India Private Ltd (TAIPL), a data sciences and artificial intelligence company, through a secondary acquisition for an undisclosed amount. 

The acquisition is expected to be completed by April 10, 2023. Post completion, TAIPL will become a subsidiary of the Company once the transaction is completed. 

Think Analytics’ shares will be acquired at a mutually agreed-upon pre-money enterprise valuation. Due to confidentiality reasons, the said pre-money enterprise valuation has not been disclosed herein, the press release said. 

The acquisition of a majority stake in Think Analytics aims to strengthen the company’s Account Aggregator framework and improve AI & Analytics services, allowing it to solidify its position as a digital public infrastructure. The acquisition will help CAMS fulfil its vision of providing technologically superior products in the rapidly expanding BFSI and capital markets sectors, the company said.

Anuj Kumar, Managing Director-CAMS, said, “With AI, Analytics, and data-led technologies becoming mainstream to solve problems, and to transform and grow businesses, we found investing into Think360 AI as a good opportunity that will assist CAMS in building overall market reach and drive innovation in the rapidly growing BFSI and capital markets space. The product and solution suite of Think360 AI is a great fit for our Account Aggregator offering, which will help us solidify our position as a digital public infrastructure. We were also impressed by the founding team’s journey of having bootstrapped, built and scaled the company successfully.” 

Amit Das, Co-Founder & CEO of Think360 AI said, “The Think360 AI team is excited to be a part of CAMS group, a company that has attained sustained leadership in the financial technology domain. The synergy between CAMS and Think360 AI will essentially focus on bringing high-impact innovation across the financial services landscape and creating market-leading advantages for our clients. This will also fortify our ability to tap the immense potential of the Account Aggregator market.”  

“Collaboratively, we look forward to driving transformation in a true sense with new-generation technologies” he added. 

TAIPL, founded in 2013 offers Software as a Service (SaaS) based products and data science services to its customers in India and abroad and is in the process of launching analytical solutions suitable for use with the Account Aggregator framework. The products of TAIPL viz. Algo360, FlowXpert, KwikID, AAmaze primarily caters to customers in the BFSI segment and has expanded to serving pharma, consulting, technology, energy and oil & gas industry as well. TAIPL has two subsidiaries viz. Think Analytics Consultancy Services Pvt. Ltd. based in India and Think 360 AI, Inc. based in Ohio, USA. 

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