Azentio Software To Acquire Software Assets From Path Solutions
- ByAyushi Ray | August 16, 2021
Azentio Software to acquire Software Assets from Path Solutions. Azentio Software (‘Azentio’),is a Singapore-headquartered software products business owned by funds advised by Apax. The transaction is contingent on obtaining relevant regulatory approvals and subject to customary closing conditions. This acquisition will strengthen Azentio’s banking portfolio by adding complimentary core banking software capabilities and a full spectrum of next generation solutions focused on Islamic banks and financial institutions. Path Solutions, which was founded in 1992, offers a comprehensive range of core banking, retail banking, transaction banking, lending, treasury, digital banking and analytics solutions to banks and financial institutions through its flagship products, Path Digital and Path Analytics. These software products help Islamic banks with digital transformation, deliver frictionless customer experience and drive long term sustainable growth. Path Solutions has an extensive footprint of over 100 Islamic banks and financial institutions in over 40 countries across the world.
Path Solutions’ team of domain and technical specialists will further augment Azentio’s capabilities as it aims to become the leading BFSI software company across the Asia Pacific (APAC), the Middle East and Africa (MEA). Path Solutions will be supported by Azentio with increased investments in R&D and sales and customer service to deliver enhanced value to its customers. Together with Azentio’s banking portfolio, consisting of lending, treasury, trade finance and anti-money laundering solutions, this acquisition will provide an end-to-end integrated solution to banks in the region. Tony Kinnear, CEO, Azentio, commented “The acquisition has great significance for us, as it adds scale and depth to Azentio’s Islamic and core banking offerings and further reinforces our vision and resolve to be a regional leader in the BFSI software space across APAC, MEA and emerging markets.”
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