21st Oct 2014 06:46
LONDON (Alliance News) - BAE Systems PLC on Tuesday said it has struck a deal to buy Perimeter Internetworking Corp for USD232.5 million, a deal that will bolster its commercial cyber security business and help it offset the decline in its main defence markets.
The US-based company, which trades as SilverSky, is focused on cloud-based managed security services and is expected to generate sale of around USD75 million for 2014 as a whole, BAE said.
"The acquisition of SilverSky enhances our strategy to grow BAE Systems' Applied Intelligence commercial cyber security business," said Ian King, Chief Executive of the FTSE 100 defence and aerospace group.
"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," King added.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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