Aurionpro announces exit from cybersecurity segment : vimars

Aurionpro announces exit from cybersecurity segment


Aurionpro Solutions announced exit from the cybersecurity business with the sale of its investment to Forcepoint LLC., USA.
The deal, for the divestment of all stake held by Aurionpro in its cyber security business is valued at a consideration of US$9.6 Million (approx. Rs 71 crore) which is net off all taxes and obligations. Forcepoint LLC, USA is a global leader in data-first cybersecurity solutions.
Out of the total consideration, Rs 45 crore will be received upfront and remaining amount to be received in tranches over a year upon fulfilment of contractual warranties and earn out.
Necessary agreements for this purpose has been signed on 06th May, 2021 and the transaction will be concluded immediately after completion of the documentation, Aurionpro Solutions said.

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