21st Jan 2026 15:39
(Alliance News) - NCC Group PLC on Wednesday announced the sale of its Escode business as it reported a strong first quarter revenue performance at its remaining Cyber business and the launch of a share buyback programme.
The Manchester, England-based cyber security and software escrow business said the Escode business has been sold to TDR Capital LLP for a total enterprise value of GBP275.0 million, creating a pure-play global cyber security and resilience business.
The gross consideration of the deal is GBP309.1 million payable in cash, with net proceeds to NCC expected to be GBP262.4 million.
Completion of the deal to European private equity firm TDR is expected to be no earlier than the end of April, NCC said.
NCC plans to return a "significant proportion" of the net proceeds to shareholders.
On Wednesday, NCC said it has launched a previously announced programme to buy back up to 10% of its share capital, with share repurchases to commence in the next few days.
"The board believes this agreement represents an excellent outcome for shareholders and will allow us to make a significant return of capital to shareholders while allowing management to focus on the further development of the value inherent in our Cyber security and resilience business," said NCC Chair Chris Stone.
NCC said its cyber business has maintained the momentum gained in the fourth quarter of financial 2025 and delivered a second consecutive quarter of revenue growth on a constant currency basis as well as sales order growth.
It expects full-year adjusted earnings before interest, tax, depreciation and amortisation to be in line with expectations.
Shares in NCC were up 3.1% at 139.00 pence each in London on Wednesday.
By Jeremy Cutler, Alliance News reporter
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