Mumbai - December 14, 2009: Arshiya International Ltd, a leading supply chain & logistics infrastructure solutions company announced that it's subsidiary has entered into an agreement with Aurionpro Solutions Ltd for the sale of marketing rights along with all existing customers and hosting infrastructure in an all cash deal. The Cyberlog product suite is a completely web based comprehensive and state-of-the-art solution for integrated logistics and supply chain management with a global customer base in over 20 countries.
COmmenting on the occasion, Mr. Ajay S Mittal, CMD of Arshiya International Ltd. said, "Since our acquisition of Cyberlog 4 years back, Arshiya has grown tremendously. As we look to commence our FTWZ operations, expand our Rail Infrastructure projects and grow Arshiya's brand globally, we believe this is the best decision for our customers. Under the deal, in addition to the cash payment and percentage of license sell, Arshiya will continue to own the product suite for its integrated operations. We are confident Aurionpro will continuously enhance the platform and bring in global best practices to our benefit as we will be getting all product updates at no cost. We have been working with Aurionpro for a long time and feel confident of long term success of this platform with the Aurionpro management team."
Mr. Amit Sheth, Managing Director of Aurionpro Solutions Ltd. said, "We are very excited to do this deal. We have been development partners with Cyberlog for long time and we have been privy to great amount of time and efforts that has gone in to creating this suite of products. We see tremendous opportunity in growing this business and look forward to future opportunities to work closely with Arshiya."
The Arshiya International Ltd stock was trading at Rs.163.95, up by Rs.3.30 or 2.05%. The stock hit an intraday high of Rs.166 and low of Rs.157.55.
The total traded quantity was 63957 compared to 2 week average of 64855.
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