Aurionpro Solutions, a global leader in enterprise security, digital innovation and banking solutions announced today that it 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 percent 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 – a rapidly growing new area in Cyber Security.
The combined business will benefit from expanded customer reach, a broader product portfolio and an accelerated roadmap by leveraging offshore low cost R&D.
The new subsidiary will have Michael Mansouri as CEO and Swapnil Mehta as President. Mansouri 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.