Aurionpro Solutions agrees to sell Cyberinc to Forcepoint LLC for $9.6 million

SaaS News -Aurionpro-Solutions-to-sell-cybersecurity-business-to-Forcepoint(source: SaaS Industry)
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Aurionpro Solutions, an enterprise security provider, has agreed to sell its cybersecurity business, Cyberinc, to Austin-based tech firm Forcepoint LLC, USA, for $9.6 million.

The sale follows lengthy delays in some of the company’s major transactions.

Paresh Zaveri, chairman, and managing director, Aurionpro, said that it was disappointing to leave at such a low price after all these years. Accepting the offer was in the company’s best interests, he added.

He said, “On balance, we will have more positives out of this; most importantly, we have the albatross off our back after this divestment.” 

After integrating its corporate security division with Silicon Valley-based startup Spikes Security, Aurionpro founded Cyberinc. Spikes was purchased for an unspecified amount in 2016.

According to Aurionpro, the cash proceeds from the deal would benefit the company’s attempt to become debt-free sometime after the second quarter of this year. In the coming years, the transaction would also help the balance sheet dramatically boost main performance metrics.

The company said, “With all business units having a strong outlook, we expect the beginning of a new chapter of a long period of healthy and sustained growth for Aurionpro in terms of sales, profitability, and free cash flows.” 

Cyberinc, powered by Cyberinc Threat Intelligence Service, provided the industry’s first context-aware Smart Isolation capability, which adapts the browsing experience with complex risk assessment. With two complementary rendering approaches, Secure Streaming and UX Optimized, this latest capability intelligently adapts web rendering based on the danger levels of the page or web feature. 

For the best security, the Secure Streaming model renders elements dynamically and safely transfers harmless pixels to the endpoint. The UX Optimized model intelligently renders unsafe pages and web elements remotely to have a smoother user interface while rendering less harmful pages and features locally.

The acquisition of Cyberinc’s Smart Isolation capabilities is the first of many investments Forcepoint will make to enhance user productivity, lower operational burdens and eliminate traditional monolithic products through a best-in-class SASE cloud service.

Manny Rivelo, CEO of Forcepoint

Aurionpro, founded in 1997, claims to be a technology products and solutions provider. It employs over 1,370 people in 14 different countries. On the National Stock Exchange, its shares were currently trading 6.86 percent higher at Rs 170.50.

Forcepoint is a tech firm that analyses human behavior and tailors security response and compliance to the level of risk.

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