SOURCE: aurionPro Solutions

Aurionpro

May 09, 2016 00:47 ET

Aurionpro Acquires Spikes Security, Adds Cyber Security Capabilities

To Form New Subsidiary Focused on Enterprise Security Towards Unlocking Embedded Value

SAN RAMON, CA--(Marketwired - May 09, 2016) - Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668), a global leader in enterprise security, digital innovation and banking solutions, announced today that it has signed a definitive agreement to acquire Spikes Security, a Silicon Valley pioneer of network based Web Malware Isolation products. The deal is aimed to be a game-changer for advancing the market momentum for its Enterprise Security business.

  • The transaction will create a dedicated subsidiary focused on Enterprise Security by merging Aurionpro's Enterprise Security division and Spikes Security. The subsidiary will be headquartered in Silicon Valley with global operations in North America, Europe, Asia and Australia
  • The new subsidiary attracts fresh equity investment from new and existing investors including Benhamou Global Ventures and Javelin Venture Partners. Aurionpro will own 80% of the new combined subsidiary. The closure of the merger process is targeted to be completed in six weeks
  • In addition to expanding its offering set, the deal amplifies and accelerates the growth objectives of Aurionpro's largest business division -- Enterprise Security by expanding its addressable market with offerings ranging from Identity and Access Management to Web Malware isolation -- a rapidly growing new area in Cyber Security
  • The combined business will benefit from expanded customer reach, a broader product portfolio and an accelerated roadmap by leveraging offshore low cost R&D
  • The new subsidiary will have Michael Mansouri as CEO and Swapnil Mehta as President. Michael is currently CEO of Spikes Security and an industry veteran having scaled three Security related businesses successfully in the past 20 years by unlocking embedded value. Swapnil Mehta currently heads the Enterprise Security division at Aurionpro and is an accomplished security solutions leader having delivered some of the most sophisticated Identity Management programs for leading banks and corporations.

Synergies unlocked

Highly targeted and regulated industries such as Banking, Financial Services, Government and Healthcare face unique cyber-security challenges and risks posed by sophisticated threat actors. The merger initiative to form a new subsidiary unlocks synergies that addresses the two most difficult security problems -- protection from advanced malware attacks and data breaches caused by fraudulent or unauthorized access to enterprise resources and data.The new subsidiary will be advantageously positioned to offer comprehensive enterprise security solutions that help businesses secure their enterprise with custom built appliances, solutions, products and services.

"Our focus has been to steer our core businesses towards accelerated growth and this deal brings great impetus to our security business. There are tremendous synergies by bringing together Spikes Security futuristic product with Aurionpro's rich legacy of Enterprise Security solutions," said Samir Shah, CEO, Aurionpro. "In a world that is increasingly digital, we will be able to serve existing global customers with new products and services highly relevant to their needs. We will empower clients to win in their market places through trust and reliability."

Bringing together leaders in Identity Management and Malware Isolation

The Aurionpro Enterprise Security team is a leader in Identity and Access Management delivering customized, integrated solutions to global organizations. The team has successfully delivered advanced security solutions to several Fortune 500 customers. Spikes Security's Isla Web Malware Isolation Solution protects organizations from the most advanced web borne threats by isolating all web content outside the network perimeter. Isla has been successfully deployed to financial institutions and other targeted industries in North America, Europe and Asia Pacific region.

"We are delighted with the combination of Spikes and Aurionpro Enterprise Security division to address the large growing market in malware isolation, identity and access management. The combination provides significant potential for establishing a leadership position in a very lucrative and growing market," says Anik Bose, Chairman of Spikes and General Partner of Benhamou Global Ventures. "The new subsidiary will leverage the growing trend of enterprises buying from MSSP's as well as the increasing adoption of isolation technologies by mainstream enterprise customers."

"The new subsidiary of Aurionpro will aim to offer full and comprehensive client-centric enterprise security solutions through our best in class isolation and identity/access management products, which combined with our 300+ security professionals globally will provide us a significant competitive advantage," said Michael Mansouri, CEO of combined subsidiary.

About Aurionpro:

Aurionpro Solutions (NSE: AURIONPRO) (BSE: 532668) Aurionpro is a global technology solutions leader that helps enterprises accelerate their digital innovation, securely and efficiently. It combines core domain expertise, thought leadership in innovation, security and leverages industry leading IP to deliver tangible business results for global corporations. Employing more than 1,450 domain and technology experts across North America, Asia and Europe, Aurionpro has been consistently recognized amongst the top 100 technology solutions providers for Financial Services companies.

For more information, visit www.aurionpro.com.

About Spikes:

Founded in 2012, Spikes Security is focused on delivering secure, scalable, high performance appliance and software solutions that empower businesses with the freedom to safely leverage the web without fear of cyber-attacks. Its flagship offering is a powerful web malware isolation system that has been deployed across a broad range of markets where organizations are concerned about protecting confidential data and intellectual property. https://spikes.com

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