Aurionpro Solutions has announced the sale of its cybersecurity investment to Forcepoint LLC. in the United States.
The deal for the divestment of Aurionpro’s entire stake in its cyber security business is priced at US$9.6 million (roughly Rs 71 crore), net of all taxes and obligations. Forcepoint LLC, based in the United States, is a global pioneer in data-driven cybersecurity solutions.
The overall consideration will be split into two parts: Rs 45 crore will be paid out right away, and the remaining sum will be paid out over the course of a year based on the fulfilment of contractual warranties and earn out.
According to Aurionpro Solutions, the required agreements for this reason were signed on May 6, 2021, and the transaction will be completed immediately after the paperwork is completed.
The cash proceeds from this business deal would aid the company’s goal to be debt-free by the end of this year’s second quarter. According to the company, the deal will also benefit the company financially, as the solid and lean balance sheet is expected to boost key performance indicators in the coming quarters.