Aurionpro to sell ID, access management business to KPMG for Rs217 crore

New Delhi: Mumbai based IT firm Aurionpro on Wednesday said a subsidiary of the company will sell its identity and access management business to KPMG LLP for about Rs217 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 ₹ 217.6 crore, all cash, and excludes the product- Cyberinc Entitlement Server,” the statement said.

Cyberinc IAM business contributed to about Rs172 crore in global revenues during the financial year 2016-17 and India revenues stood at Rs90 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.