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Rob Cotton, NCC Group, Deal of the month, acqusition, Manchester

NCC Group wins deal of the month

NCC Group’s acquisition of a European cyber security business focussing on security analysis and threat intelligence for €133.25m (£93.5m) has been named North West Business Insider‘s latest Deal of the Month.

At the end of November 2015, it was announced that the Manchester-headquartered IT services provider had bought Fox-IT Holding BV for a total consideration of £93.5m, with £76m paid in cash on completion and a further £7m in cash payable and £1.8m in NCC Group shares to be issued on the first and second anniversaries of completion.

The transaction is being funded by a firm placing raising £63.1m gross, a placing and open offer raising £63.2m gross, as well as new multibank facilities comprising an £80m revolving credit facility and £30m term loan.

Headquartered in Delft in the Netherlands, the Fox Group provides a range of cyber security services including products, managed security services, advanced threat intelligence, forensics and incident response, sovereign cryptography and professional services.

Rob Cotton (pictured), NCC Group chief executive, described the deal at the time as “a unique opportunity to acquire a leading, substantial European cyber security business that focusses on security analysis and threat intelligence at a time that organisations globally are only now beginning to appreciate that they need to be proactive, not reactive, in dealing with cyber security”.

David Casey, digital news editor at Insider, said: “Online security is a real hot topic at the moment following the high-profile data breach at TalkTalk, and this deal reinforces NCC Group’s position as a key player in the cyber security space.”

Rickitt Mitchell was the lead adviser on the deal. Eversheds‘ Manchester and Amsterdam offices advised NCC Group with a team led by Daniel Hall and Miriam Van Ee. Deloitte provided financial due diligence on the transaction.

— Insider Magazine

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