Aurionpro to sell ID, access mgmt biz to KPMG for Rs 217 cr

Don't want to miss the best from Business Standard?

Mumbai based IT firm Aurionpro today said a subsidiary of the company will sell its identity and access management business to KPMG LLP for about Rs 217 crore.
"On January 3, 2017, Cyberinc, an Aurionpro subsidiary, entered into a definitive agreement with KPMG LLP, USA for sale of its identity and access management (IAM) business. The transaction is expected to close on January 31, 2018," the IT firm said in a regulatory filing.
The company claimed that Cyberinc is the largest independent IAM technology provider in the world with a global team of 190-persons, having presence in the US, India, Australia and the UK.

"The proposed sale will require participation of Cyberinc US, UK, Australia and Aurionpro India...the aggregate purchase price will be around Rs 217.6 crore, all cash, and excludes the product- Cyberinc Entitlement Server," the statement said.
Cyberinc IAM business contributed to about Rs 172 crore in global revenues during the financial year 2016-17 and India revenues stood at Rs 90 crore, the statement added.
KPMG in a separate statement said that Cyberinc IAM business acquisition will enhance its existing capabilities as a leader in information security consulting services and expand the firm's ability to provide clients with emerging and more agile IAM solutions.