eMudhra to Acquire AI Cyber Forge for $4.8 Million to Boost Cybersecurity Portfolio

eMudhra Limited, through its US-based subsidiary eMudhra Inc., has signed an agreement on 24th July 2025 to acquire 100% ownership of AI Cyber Forge Inc., a company in the United States known for its specialisation in secrets management, PKI automation, encryption services, and just-in-time credentials. The acquisition is valued at $ 4.8 million, payable in cash. The deal is expected to be completed within 2-3 weeks.

Strategic Importance and Business Fit

AI Cyber Forge Inc., founded by US-based tech entrepreneur Rishi Patel, is engaged in advanced cybersecurity practices, especially in areas aligned with current industry demands such as cloud infrastructure, container technologies, and centralised credential management compliant with NIST and FedRAMP standards. 

eMudhra, having built a strong presence in the fields of digital trust, transformation, and cybersecurity over the past 16 years, views this acquisition as a way to strengthen its product suite by including secrets management solutions, a currently missing component. This strategic alignment will enable eMudhra to position itself globally as a comprehensive cybersecurity provider focused on PKI-driven solutions.

Business Impact and Financials

AI Cyber Forge reported a revenue of approximately $600,000 (₹5.1 crores) for the financial year ending 31st March 2025. Through this acquisition, eMudhra aims not only to diversify and strengthen its offerings but also to expand its customer base in the US market. The acquisition will play a key role in enhancing eMudhra’s global competitiveness and in accelerating its expansion in technologically advanced markets.

Read More: LTTS, BITS Pilani and CRENS Forge Alliance to Strengthen India’s National Security Tech!

eMudra Share Price Performance 

As of July 25, 2025, at 1:12 PM eMudra share price is trading at ₹816.15 per share, reflecting a decline of 0.031%. Over the past month, the stock has surged by 5.97%. The stock's 52-week high stands at ₹1,024 per share, while its low is ₹652.30 per share.

Conclusion 

The acquisition of AI Cyber Forge Inc. marks a strategic step for eMudhra to strengthen its cybersecurity capabilities and broaden its global footprint, particularly in the US market.

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