Ultra Electronics, the technology company with interests in defence, transport and energy, has agreed to acquire Barron McCann Technology and Barron McCann Payments, two specialist cyber security companies.
Ultra has paid a total of £12m for the firms, which together employ 58 staff.
Known collectively as 'BeMac', the two companies provide baseline grade crypto and key management services to the UK government, military, law enforcement agencies and the finance sector and were purchased to broaden Ultra's crypto portfolio beyond the high-grade domain and also provide access to the lucrative financial services market.
Rakesh Sharma, Chief Executive of Ultra, said: "This acquisition fits Ultra's strategy of having an end-to-end crypto capability within the cyber security market. Under Ultra ownership, BeMac can exploit its strong synergies with AEP Networks and so augment planned growth in international markets."
BeMac will become part of Ultra's existing AEP Networks business in the Tactical & Sonar Systems Division.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.