REG - BAE SYSTEMS PLC - Acquisition <Origin Href="QuoteRef">BAES.L</Origin>

BAE SystemsAnnouncement

12/12/2014 07:10

RNS Number : 5810Z
BAE SYSTEMS PLC
12 December 2014
BAE Systems completes SilverSky acquisition
12 December 2014
Further to the announcement of 21 October 2014, BAE Systems has completed the acquisition of Perimeter Internetworking Corp., which trades as SilverSky, a commercial cyber service provider. The consideration of $232.5 million (approximately 144.4 million) has been funded from BAE Systems' existing cash resources.
SilverSky is a commercial cyber services and compliance provider, headquartered in New York, with operations in the US and the Philippines. The company currently employs approximately 400 staff and has over 5,000 customers.
Ian King, Chief Executive, BAE Systems said: "SilverSky's cloud-based email and network security solutions complement our existing portfolio and increase our presence in the United States, a very significant market for IT security. The enlarged business will offer customers an attractive suite of products and services to protect critical information and networks from the rapidly growing threat of digital crime."
SilverSky's highly skilled sales, marketing and engineering workforce and experienced management team will join Applied Intelligence's Commercial Solutions division, which will be led by SilverSky's Chief Executive Officer, Tim Harvey.
Issued by:
BAE Systems plc
London

This information is provided by RNS
The company news service from the London Stock Exchange
  END
ACQDXBDDXSBBGSB