Enterprise software provider Speridian Technologies has acquired a majority stake in FinTech company Sesame Software, specialised in banking solutions.
Sesame has long-term experience in the Indian banking sector having provided software to a number of local lenders, including co-operative banks.
The 1993-founded company holds a 20% market share of urban banks in Kerala, where it is based.
The acquisition opens up a range of growth opportunities for Speridian, which is aimed at expanding in different sectors.
Satish Ganta, head of India operations at Speridian, said, “Speridian India has been seeing a steady growth in terms of new clients and projects and we have seen keen interest with regards to domain specific solutions.
“Sesame’s well established Core Banking Solution will be an asset to our expanding product portfolio.”
Vinod P, director and head of banking services at Sesame, added, “Speridian’s expertise in implementing large scale technology projects for global clients is a great value addition for us to scale our services.
“It will allow us to manage growth, attract and retain superior talent, ramp up our technology infrastructure and strengthen the brand.”
Copyright © 2016 FINTECH GLOBAL
Copyright © 2018 RegTech Analyst
