Speridian buys majority stake in Indian fintech firm Sesame Software
US-based Speridian Technologies has purchased a majority share in Indian fintech solutions provider Sesame Software for an undisclosed amount.
Incorporated in 1993, Sesame has over two decades of banking domain expertise, having successfully delivered Core Banking Solutions (CBS) to several clients including Co-operative banks with over 950 branches.
Speridian expects the deal to further strengthen its plans for the coming years, by enabling its foray into banking sectors.
Speridian Technologies CEO Girish Panicker said: "This investment presents an important strategic opportunity for Speridian to offer technology solutions, consulting services and cost savings for banks and other financial services providers, while maximizing return on investment."
Speridian Technologies head of India operations Satish Ganta said: “Sesame's well established Core Banking Solution will be an asset to our expanding product portfolio. Together, we hope to serve the Banking sector and achieve new heights.”
Sesame Software founder and managing director Vinod VC said: "This acquisition adds to our capacity and geographic presence and enables us to deliver exceptional service to our customers and prospects.”