Path Solutions founder Mohammed Kateeb to leave firm
Path Solutions founder and CEO Mohammed Kateeb is to leave the firm after managing its sale to Azentio Software in 2021.
Path Solutions founder and CEO Mohammed Kateeb departs
Announcing his departure on LinkedIn, Kateeb says that after the completion of “the successful acquisition and integration” of Path Solutions into Azentio, he is formally announcing his “final departure” from the firm.
Azentio Software agreed to acquire “certain software assets” from the Islamic core banking software vendor in August 2021. Azentio said it would support Path Solutions with increased investments into research, product development, sales, and customer service.
The deal included the firm’s flagship core banking system, iMAL, as well as the iShraq, Path Digital, and Path Analytics platforms. Azentio said the deal, the figure of which was undisclosed, would strengthen its banking portfolio.
Path Solutions was established in the early 1990s in Kuwait and over the years has grown to become a major provider of banking technology software to Islamic banks and financial institutions.
Azentio Software is a Singapore-based technology provider, owned by Funds advised by Apax Partners. It was previously the software products business of India-based 3i Infotech – it was acquired by Apax in 2020, and subsequently reorganised, rebranded and relaunched as Azentio.
It offers banking, insurance, wealth/asset management, and ERP software across Asia Pacific, Middle East, Africa, and India.
