BAE Systems is to acquire commercial cyber service provider Perimeter Internetworking Corp, which trades as SilverSky.
In a $232.5 million (approximately £144.4 million) cash deal and debt free basis, the acquisition is expected to close before the end of 2014. A cloud-based managed security services provider of services including email protection, network security and managed applications, SilverSky is largely focused on the US market, with a growing business in Asia and Europe.
Ian King, chief executive of BAE Systems, said: “The acquisition of SilverSky enhances our strategy to grow BAE Systems’ Applied Intelligence commercial cyber security business. SilverSky has an established sales force, a complementary suite of scalable products and a large installed customer base, providing a proven route to commercial markets in the US and other countries for our combined capabilities.
“SilverSky’s cloud-based email and network security solutions, its highly skilled resource in marketing and engineering, plus an experienced management team are an ideal fit for Applied Intelligence.”
King said that the enlarged business will offer users a suite of products and services to protect critical information and networks and detect cyber threats and financial crime. “The enlarged business has outstanding growth opportunities,” he said.
