Aurionpro Solutions is a global technology solutions provider that helps enterprises accelerate their digital innovation, securely and efficiently. The company recently acquired Spikes Security in order to expand its security portfolio and gain on the competition. In this regard, Samir Shah, CEO of Aurionpro spoke to Dataquest and divulged more details into the company’s future roadmap.
How is the enterprise and cyber security space changing?
The enterprise security and cyber security space is witnessing tremendous disruption that is primarily driven by ‘digital’ agendas of corporations and consumers. Needless to say the more things get digital, the more security has a role to play.
Two key drivers leading to this change – ongoing and persistent threat from the malware attacks targeting sensitive data and ever-increasing consumer appetite for digital products and services. The attacks are increasing in numbers and sophistication at the same time, the digital consumer has been very demanding for all interactions – from discovery to consumption of products and services.
When you combine the two forces of the growing cyber threat and the increasing customer digital footprint, it is then not surprising that global cyber security market is expected to grow at CAGR of nearly 10% from 2015 to 2020 (according to MarketsandMarkets). Further, we expect to see the biggest growth in Financial Services and Government verticals.
The high-profile data breach on 77 million user accounts at Sony Pictures last year and the breach of 76 million records of JP Morgan Chase in 2014 changed the way enterprise security is viewed, as cyber espionage has entered the enterprise lexicon and everyone from executives to the average citizen has become aware and cognizant of the perils of cyberattacks. More recently the release of LinkedIn usernames and passwords that prompted the company to release an official statement encouraging users to change their passwords are great examples where Security is no longer the cost of compliance, it is the currency of a company’s brand.
What was the intent behind acquiring Spikes Security?
Highly targeted and regulated industries such as banking, financial services, government and healthcare face unique cyber-security challenges and risks posed by sophisticated threat actors. The merger initiative to form a new business unlocks synergies that address the two most difficult security problems – protection from advanced malware attacks and data breaches caused by fraudulent or unauthorized access to enterprise resources and data. Aurionpro has been working to offer enterprise security solutions via its identity and access management practice and products. Over the last 15 years, the company has seen great success having secured 30 million identities and successfully delivered advanced security solutions to several Fortune 500 customers.
Spikes Security is a silicon valley based pioneer that developed patented technology over last 3 years to eliminate number one threat vector within enterprises – web based malware attacks. The acquisition and ongoing merger to form a focused subsidiary on Enterprise Security will deliver positive momentum to the growth of the Enterprise Security business.
With the formation of the new enterprise security business subsidiary we will be advantageously positioned to offer comprehensive enterprise security solutions that help businesses secure their enterprise with custom built appliances, solutions, products and services. The intent is to unlock synergies and expand product offerings to existing and new potential customers.
In a world that is increasingly digital keeping operations and information secure as a significant portions of customer engagement shifts outside the firewall has become a prerequisite for a business to succeed.
How will the acquisition affect your market positioning?
We have always been known for quality and credibility of our work in the enterprise security space. Most of our work has been focused on Identity and Access Management for large customers across western markets. With Spikes acquisition, we now have products and capabilities beyond Identity and access management space that will help us extend into the Cyber Security space as well. Spikes Security enjoys leadership position in malware isolation – we aim to take it global.
I am confident now; with our combined team, we will be able to serve existing global customers with new products and services that are highly relevant to their needs. We will be able to truly empower clients to win in their market place through trust and reliability with our comprehensive portfolio of offerings around network, access and identity
What are your plans to expand your presence?
Our enterprise security business has been focused on US, UK and Australia markets. With the Spikes acquisition, we have the necessary growth impetus to scale our enterprise security business rapidly. Initially we aim to target our customer base globally, followed by expanding deeper into Europe, APAC and Indian markets.
Where do your customers come from – geographically and vertically?
For u, most of our Enterprise Security customers are from US, UK and Australia, while most banking customers are from India, APAC and ME regions. We do have a healthy mix of verticals (BFSI, Govt, Healthcare, Media and Entertainment, etc.) representing our customer base, but BFSI forms a majority of our business, around 67%.
After the acquisition, what will be your GTM?
With identity and access management and now cyber security products, we are fundamentally addressing two key challenges – cyber threat and threat of data breach through unauthorized access. Our products and IP are very cutting edge and thus the GTM approach will be to play a thought leadership role for CISOs as we will look to be their primary partner to shape the Enterprise Security strategy and approach in the digital era.