Aurionpro Solutions strengthens on acquiring Spikes Security

09 May 2016

Aurionpro Solutions is currently trading at Rs. 156.00, up by 4.80 points or 3.17% from its previous closing of Rs. 151.20 on the BSE.

The scrip opened at Rs. 156.90 and has touched a high and low of Rs. 157.00 and Rs. 156.00 respectively. So far 2,150 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 260.00 on 13-Oct-2015 and a 52 week low of Rs. 103.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 157.00 and Rs. 141.20 respectively. The current market cap of the company is Rs. 307.74 crore.

The promoters holding in the company stood at 32.16% while Institutions and Non-Institutions held 0.53% and 67.31% respectively.

Aurionpro Solutions, a global leader in enterprise security, digital innovation and banking solutions 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. The combined business will benefit from expanded customer reach, a broader product portfolio and an accelerated roadmap by leveraging offshore low cost R&D.

Aurionpro Solutions is a publicly traded technology company providing software products and expert level consulting services to an extensive global customer base. The company provides valuable operational and technical experience in helping banks provide new and innovative products to their customers.


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