Computer Age Management Services Ltd (CAMS), one of India’s leading technology-driven financial infrastructure and services providers, announced on Sunday that it had acquired a 55.42% stake in Think Analytics India Private Ltd (TAIPL), a data sciences and artificial intelligence firm, in a secondary acquisition for an undisclosed sum.

Think Analytics’ shares will be acquired at a pre-money enterprise valuation that has been mutually agreed upon. According to the press release, the indicated pre-money enterprise valuation has not been released due to confidentiality concerns.

Think Analytics’ acquisition of a majority stake seeks to strengthen the company’s Account Aggregator framework and improve AI & Analytics services, allowing it to secure its position as a digital public infrastructure. According to the company, the acquisition would enable CAMS fulfil its objective of providing technologically superior products in the fast developing BFSI and capital markets sectors.

According to Anuj Kumar, Managing Director of CAMS, “With AI, Analytics, and data-driven technologies becoming more widely used to solve problems and transform and grow businesses, we saw Think360 AI as a good opportunity to help CAMS expand its overall market reach and drive innovation in the rapidly growing BFSI and capital markets space.

CAMS has expanded its services as a digital infrastructure supplier for the mutual fund sector to include alternative investment funds, portfolio managers, pension funds, the insurance business, and, most recently, account aggregation.

TAIPL, formed in 2013, provides Software as a Service (SaaS)-based products and data science services to customers in India and around the world, and is currently developing analytical solutions for use with the Account Aggregator architecture. TAIPL’s products, which include Algo360, FlowXpert, KwikID, and AAmaze, predominantly serve customers in the BFSI sector, but it has also grown to serve customers in the pharma, consulting, technology, energy, and oil and gas industries. Think Analytics Consulting Services Pvt. Ltd. is situated in India, while Think 360 AI, Inc. is based in Ohio, USA.