Mumbai-based enterprise security company
Aurionpro Solutions, has signed a definitive agreement to acquire
Spikes Security, a Silicon Valley startup. The deal amount is still undisclosed by both the firms.
The deal 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 raising 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.
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.
“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.”, said 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.
Founded in 2012, Spikes Security is focused on delivering a powerful web malware isolation system that allows organizations to protect confidential data and intellectual property.
