NCC buys Boston Cyber Firm
LISTED IT security business NCC Group has acquired a US cyber security firm for up to £4.8m ($6m).
Based in Boston, Virtual Security Research is an information, network and application security consultancy.
Founded in 2004, it provides services to US corporate clients, including several in the Fortune 500, mainly in the technology and financial services sectors.
The deal, for a total consideration of up to $6m, comprises an initial payment of $4m and two further annual payments of up to $1m each, dependent on performance related targets. VSR’s founder and senior management team are remaining with the business.
Manchester-based NCC said the deal, financed from existing debt facilities, will provide a foundation stone into Boston and that part of the north-eastern region of North America.
Rob Cotton, NCC Group chief executive, said: “This earnings enhancing acquisition is part of our strategy to acquire services-led businesses in North America, to further complement our geographical presence and technical strength in the region.
“VSR is an important addition to our US office network and will provide a foundation stone to grow our coverage in Boston and in the North East of the US.”
NCC Group plc was advised by Stuart Moss and Alex Wilson of Rickitt Mitchell
— TheBusinessDesk.comBack to news