Coban provides high-end enterprise web technologies and enterprise integration technologies to Fortune 1000 clients focusing on the web portal and enterprise content management space.

"Coban's acquisition shall provide an added impetus to AurionPro's growth plans in the US market. AurionPro shall endeavor to leverage Coban's strong partnership with Vignette and a clientele comprising Fortune 1000 companies to cross sell its solutions and services in a complementing manner," said Amit Sheth, managing director of the company.

"With the earlier acquisition of SPS Corporation, we already have on the ground presence of over 100 qualified professionals. Coban's team with its rich experience in working on high-end, large and complex products in global environment synergistically complements the bouquet of existing skill sets and capabilities thereby offering the US customers a unique value by adding offshore delivery capabilities to already strong onsite presence," he added.

AurionPro Solutions is an eight-year-old technology product and solutions company based in Mumbai, with a subsidiary in Singapore and a joint venture in the US.

The company has built a niche presence in cash management solutions in the banking sector, servicing top private sector and foreign banks operating in India. Its cash management solutions today handle over 500,000 transactions daily clocking volumes of over $17 billion every year.

The company also offers IT services which, the company says, has helped it maintain best practices in product implementation, offshore delivery and technology adoption, essentials for any IT company.

AurionPro Solutions reported consolidated revenues of Rs23.51 crore for the financial year ended March 31, 2006 against Rs 10.47 crore during the previous financial year. Net profit (after expenses of Rs1.6 crore towards IPO) stood at Rs 6 crore against Rs 2.78 crore the previous year. This represents an annual growth of 124.47 per cent in revenues and 116.27 per cent in net profit.