TLA advises Path Solutions on the sale of software assets Azentio
Tribonian Law Advisors (TLA) has advised Path Solutions, a leading provider of core banking software in the MENA region, on the sale of business assets to Azentio Software (“Azentio”), a Singapore-headquartered software products business owned by funds advised by Apax.
The transaction is contingent on obtaining relevant regulatory approvals and subject to customary closing conditions. The acquisition will strengthen Azentio’s banking portfolio by adding complimentary core banking software capabilities and a full spectrum of next generation solutions focused on Islamic banks and financial institutions.
Founded in 1992, Path Solutions offers a comprehensive range of core banking, retail banking, transaction banking, lending, treasury, digital banking and analytics solutions to banks and financial institutions through its flagship products iMAL™, iShraqTM, Path Digital and Path Analytics. These software products help Islamic banks with digital transformation, deliver frictionless customer experience and drive long term sustainable growth. Path Solutions has an extensive footprint of over 100 Islamic banks and financial institutions in over 40 countries across the world.
TLA’s team was led by partner Carlo Pianese and assisted by associates Shiladitya Majumdar, Mohamad Al Rifai and by trainee Sara Zaarour.
Azentio was advised by the Hong Kong office of Kirkland & Ellis with a team led by partners Daniel Dusek and Ram Narayan, assisted by associate Raymond Wong.