BAE completes SilverSky acquisition

BAE completes SilverSky acquisition

$283 million deal funded from existing cash resources

BAE Systems has completed its deal to acquire Perimeter Internetworking Corporation that trades as SilverSky.

SilverSky is a commercial cyber services and compliance provider, headquartered in New York, with operations in the US and the Philippines. It currently employs approximately 400 staff and has over 5,000 customers.

The deal is said to be worth $US232.5 million (approximately AU$283,189,508).

BAE Systems chief executive, Ian King, said SilverSky’s cloud-based email and network security solutions complement the firm’s existing portfolio and increase its presence in the US which he described as 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.

BAE Systems specialises in providing defence, aerospace and security solutions to government and industry.

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Tags acquisitionBAE SystemsSilverSky

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