Aurionpro Solutions surges as arm sells IAM business

The stock surged 15% to Rs 284, also its 52-week high on BSE in intra-day trade.

Aurionpro Solutions surged 15% to Rs 284, also its 52-week high on BSE in intra-day trade, after Cyberinc, the company's 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.

“Cyberinc’s IAM business is the largest independent IAM provider in the world. The proposed sale will require participation of Cyberinc US, UK, Australia and Aurionpro India,” Aurionpro Solutions said in a regulatory.

Cyberinc’s IAM business contributed to about Rs 172 crore in global revenues during the fiscal year