Page Solutions acquires Mumbai-based Blockchain technology startup
UK-based data solutions and ERP consulting firm Page Solutions has strengthened its Blockchain offering in India through the acquisition of a Mumbai-based startup by the name of Aelto Tech. The firm’s India practice will now operate as a subsidiary under the title of Page Chain Technologies.
Popularised by the Bitcoin revolution that has rocked the global financial sector over the last year in particular, Blockchain is a state-of-the-art data compilation and storage technology. The technology is most popular for its highly decentralised structure, which consists of a shared, auto-renewing database that can be accessed by an unlimited number of consensual users.
The absence of a centralised storage unit eliminates the risk of a single targeted attack that could compromise the entire database. As a result, the technology soon gathered momentum outside of the Bitcoin economy as well, being adopted by a number of industries as a mechanism against fraud.
Such widespread popularity has presented a substantial opportunity for consulting firms in the technology and data management sectors, as major players across industries turn to the consulting industry to assist with transitions to a Blockchain setup. The momentum is a worldwide phenomena, but is particularly strong in India, where a large but fresh digital population presents financial vulnerabilities, especially as the fintech landscape expands.
Last year, Indian tech firm Wipro – highly active in the Blockchain space – joined a global consortium of Blockchain expert firms by the name of Hyperledger. Now, Page Solutions, a UK-based provider of data-management solutions including Blockchain, has strengthened its offering in India by acquiring a local startup; a trend that is increasingly gaining traction in the vibrant startup environment in India.
Specialised in supporting the Banking and Financial Services (BFS) sector, Page Solutions offers consulting and technology outsourcing services to clients across the world, spanning the UK, UAE, Canada, USA, Singapore, and India. The services are grounded in IT, strengthened by the firm’s highly experienced technology team, boasting a total of more than 1000 man-years.
Blockchain is among the firm’s specialisations, which is set to be substantially boosted by the incorporation of Aetlo Tech; conceptualised as a Bockchain-focused solutions firm. The young firm was founded a year ago by Adarsh Kumar and Rupesh Mishra, who specialise in disruptive technology and product architecture respectively.
Aetlo Tech is fueled by the vision that all industries, ranging from music to insurance to healthcare, will all have transitioned to Blockchain platforms in the near future. Solutions offered by the firm focus on the know your customer (KYC) approach, in addition to Smart Insurance and Consensus Chains.
Commenting on the acquisition, COO of Page Solutions, Sridhar Dasari said, “This acquisition further strengthens Page's position in providing the first and last Blockchain solution a customer will ever need from start-up to global enterprise, whilst integrating seamlessly with their other enterprise applications.”
Co-founder of Aetlo Tech, Adarsh Kumar elaborated on the future of Blockchain by saying, “Beyond the noise and hum of cryptocurrencies, we see an enormous unexplored potential in blockchain use cases. Our team will keep focusing on converting disruptive technologies into tangible and scalable products.”
Rupesh Mitra added, “Team Aetlo will leverage the global banking and financial sector domain expertise and presence of Page Solutions to develop Blockchain based financial use cases across the globe.”
