New Delhi: BLS E-Services on Friday announced the acquisition of a 100 per cent stake in Atyati Technologies, a Bengaluru-based AI-powered banking technology company, for about Rs 157 crore in an all-cash transaction.
BLS E-Services, a subsidiary of BLS International, provides business correspondent (BC/rural banking outlets) services, loan distribution, and e-governance services, among others.
Atyati is a financial inclusion and banking technology platform that enables banks through AI-driven digital solutions, business correspondent services, micro-lending platforms, and last-mile banking infrastructure.
It serves more than 35 banks and financial institutions through a network of over 25,900 Customer Service Points (CSPs) covering about 1 lakh villages across India.
"This strategic fit enables us to further expand our reach and deepen our impact across underserved communities," said Shikhar Aggarwal, Chairman, BLS E-Services.
This acquisition is expected to unlock significant synergies for BLSe, including network expansion, enhanced scale, and improved cost efficiencies through shared infrastructure, all of which will contribute positively to our long-term growth and margin profile, he added.
Lagrange Point Advisors LLP acted as the transaction advisor to BLSe for the transaction.
Dentons Link Legal acted as the legal advisor, while Deloitte acted as the financial and tax due diligence advisor for the transaction.
