eMudhra announces acquisition of Sendrcrypt Technologies Inc

eMudhra Limited (BSE: 543533 NSE: EMUDHRA) today announced that it has entered into a definitive agreement to acquire 100% of Sendrcrypt Technologies Inc (Sendrcrypt), New Jersery, USA, through its wholly owned subsidiary eMudhra Inc, USA for a consideration of USD 3 million.

Sendrcrypt has been engaged in providing top-tier email security solutions to protect digital communications. Sendrcrypt flagship product, Sendrcrypt Email Security Suite, leverages advanced encryption to ensure the confidentiality and integrity of emails across multiple platforms, including Windows, macOS, iOS, and Android.

With the increasing prevalence of cyber threats, Sendrcrypt mission is to offer unparalleled email security that meets the highest industry standards. Sendrcrypt email security product will compliment eMudhra's suite of cyber security products.

The revenue from for the year ended March 31, 2024 amounted to USD 0.5 million.

eMudhra has been in the digital trust, digital security and digital transformation space for past 15 years. Over the years, eMudhra has established a strong footprint in India and has also grown reasonably well in the emerging and developed markets with marquee reference customers. eMudhra's current cyber security solutions take care of individual security, web security and IoT security. eMudhra currently does not have a solution on email security. Acquisition of Sendrcrypt will compliment eMudhra's cyber security suite by adding email security product and relevant reference customers.

Mr. V Srinivasan, Executive Chairman, eMudhra Limited, said: Today, more than ever, the world is witnessing an unprecedented focus on Identity, Verification, and Authentication as the cornerstone of digital trust and security. This paradigm shift is not merely a trend but a fundamental restructuring of how individuals, organizations, and governments interact in the digital sphere. At the forefront of this transformative journey stands eMudhra, a pioneer in delivering cutting-edge solutions that empower businesses and governments to navigate the complexities of the digital age.

The global society is integrating more and more through digital medium. Paperless digital transformation and cyber security have become key needs in such integrated digital society. eMudhra catering to such needs has seen industry leading growths in Indian and other emerging markets. eMudhra proposes to acquire 100% of SendrCrypt Technologies Inc to complement eMudhra's cyber security suite by adding email security product and relevant reference customers. Combined with eMudhra's existing product range and Sendrcrypt's email security solutions, I am sure that we will provide unparalleled value to our customers as they pursue their digital journey.

Shares of eMudhra Limited was last trading in BSE at Rs. 880.10 as compared to the previous close of Rs. 897.85. The total number of shares traded during the day was 9281 in over 977 trades.

The stock hit an intraday high of Rs. 903.00 and intraday low of 858.10. The net turnover during the day was Rs. 8243512.00.

Source : Equity Bulls

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eMudhra INE01QM01018 ITEnabledServices Acquisition SendcryptTechnologiesInc