Another major acquisition is making its way. As per the latest update, Sophos is all set to buy Cyberoam, which is a subsidiary of Elitecore Technologies. If reports are to be believed, the deal will close for Rs 430 crore.
The report from the Economic Times suggested that that Hemal Patel, Founder, Elitecore will retain his 20 percent share and will continue to run the company post acquisition.
However, it is difficult to say anything for confirmed as of now as none of the companies have announced anything officially and the spokespersons from both the companies have refused to confirm or deny the news. So stay tuned to varindia.com for further updates on the acquisition.
