BAE takes flight in cyber security sector with $233m bid for SilverSky

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her Tuesday 21 October 2014 8:36 pm Show Comments ▼ Defence firm BAE Systems is looking to expand into the cyber security sector with a $232.5m (£144.2m) bid for SilverSky.SilverSky, owned by US company Perimeter Internetworking, is a cloud-based security services provider with 5,500 customers in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors. It is focused mainly on the US market, with a developing business in Asia and Europe.The acquisition will be made on a on a cash-free and debt-free basis, and is expected to close before the end of 2014. It will be funded from BAE Systems’ existing cash resources. Ian King, chief executive at BAE, said the deal would help to grow the group’s Applied Intelligence commercial cyber security business and would also provide a “proven route to commercial markets in the US and other countries”. He added: “Together, the enlarged business will offer corporate clients 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.”Sash Tusa, analyst at Edison Investment Research, said that although the acquisition was a small one on a financial basis, it was interesting because BAE had not made a “significant deal” in the cyber security sector for a couple of years. He commented: “Investors have become a bit disappointed by BAE’s cyber activities, since the overall growth has been weak recently due to US budget cuts. This deal could be quite an interesting opportunity for BAE to re-boot its cyber business.” whatsapp whatsapp Share Caitlin Morrison Tags: BAE Systems Company BAE takes flight in cyber security sector with $233m bid for SilverSky last_img

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