NCC Group plc, the independent provider of IT assurance, security and consultancy services, has acquired its second US-based software escrow solutions business, Source Harbor Inc, for a maximum consideration of $1.5m in cash.

The business was established three years ago and operates out of the San Francisco area. This acquisition strengthens NCC Group's US operation, based in Silicon Valley. NCC Group initiated its US expansion strategy with the acquisition in January of one of the top five US escrow providers based in San Jose.

Rob Cotton, NCC Group Chief Executive, said:

"This second US acquistion confirms our commitment to the US market and our strategy to build a presence in this important market both by acquisitive growth and organically. It is earnings enhancing and fits neatly with our San Jose operation."

Stuart Moss advised NCC Group on the acquisition of Source Harbour Inc.