AURIONPRO SOLN Share price

INCORPORATIONOur Company was incorporated on October 31 1997 as Value Added Information Distribution Services Private Limited. The name of our Company was changed to VAIDS Technologies Private Limited on April 30 2001 andsubsequently to aurionPro Solutions Private Limited on September 18 2003. We converted our Company into a public limited Company on March 09 2005.BACKGROUNDOur Company was started in 1997 by Mr Bhavesh R Talsania a Chartered Accountant and Mr Amit R Sheth a finance professional with engineering and management qualifications as a bespoke IT services provider in Microsoft and Java technologies. In 1999 we got an opportunity to enable a leading private sector bank to enter the cash management market through innovative products and solutions. In the same year Mr Paresh C Zaveri a finance professional with engineering and management qualifications joined the Company as a Promoter. As our services practice grew with more opportunities coming our way our focus got crystallized in providing banking IT solutions. Over the years we have grown to become a strong technology Company as a number of software professionals joined us and built the niche expertise extensively.In 2003 we formed a strategic partnership with aurionPro Services Pvt Ltd. a company founded by experienced banking professionals formerly with the Citigroup having deep domain experience in niche areas. This partnership besides deepening our banking IT focus expanded the core team to include senior banking technology professionals with rich experience and deep understanding of current and future banking needs thus enabling us to transition ourselves from being ?founder centric? to ?professional?. The partnership was further strengthened with equity relationship as aurionPro Services became a significant shareholder in our Company through an agreement the terms of which inter alia provide that aurionPro Services would be engaged in the business of management consulting and Business Process Outsourcing (BPO) and our Company being a technology company would provide systems support both for process automation and outsourcing bridging. This arrangement enabled the group to present an array of services to the banking sector on a mutually beneficial basis. The name of our Company was then changed to aurionPro Solutions.