BSE Technologies Private Limited (a subsidiary of BSE Limited) on Friday announced the successful sale of its CLASS Back Office software segment, along with complementary products like Citrus, Spark, and Class DP, to RTV Tech Systems Pvt. Ltd. (a wholly owned subsidiary of Rupeeseed Technology Ventures Pvt. Ltd).
With effect from 4 September, 2023, this strategic transaction is expected to fortify the product offerings and foster innovation within the financial services sector, the company said.
The acquisition encompasses key employees from BSE Technologies, who were integral in the development and support of these products, now becoming part of the RTV Tech Systems team.
RTV Tech Systems views this acquisition as a synergistic addition to its product portfolio, complementing Rupeeseed Technology Ventures’ existing offerings, which include Trading Platforms and a range of front-end trading and wealth solutions.
The acquisition of CLASS will not only enable the provision of an integrated technology stack to brokers and wealth management firms, it will enhances the comprehensive suite of financial services provided by the Rupeeseed group.
“Through this acquisition, Rupeeseed will offer solutions spanning client onboarding (eKYC), Trading, Risk Management, and Back-Office processing. This integration will minimize friction between front and back office applications, making Rupeeseed one of the few players in the Indian markets to provide comprehensive solutions for all essential application requirements of brokers,” Sandeep Manoharan, CEO of Rupeeseed said.
