BAE Systems signs agreement to acquire SilverSky

BAE Systems has entered into a definitive agreement to acquire Perimeter Internetworking Corp., which trades as SilverSky, a commercial cyber service provider, for $232.5m (approximately £144.4m) on a cash free and debt free basis. Ian King, Chief Executive, BAE Systems, said: “The acquisition of SilverSky enhances our strategy to grow our Applied Intelligence commercial cyber security business. SilverSky has an established sales force, a complementary suite of scalable products and a large installed customer base, providing a proven route to commercial markets in the US and other countries for our combined capabilitie. “SilverSky’s cloud-based email and network security solutions, its highly skilled resource in marketing and engineering, plus an experienced management team are an ideal fit for Applied Intelligence. Together, the enlarged business will offer corporate clients a suite of products and services to protect critical information and networks and detect cyber threats and financial crime. The enlarged business has outstanding growth opportunities.” SilverSky is a leading independent cloud-based managed security services provider operating in the fast-growing cyber security market providing services including email protection, network security and managed applications. Its customer base includes approximately 5,500 customers in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors.