Last checked at 2 May 2014 07:00
2 May 2014
NCC Group plc
Acquisition of Scandinavian security testing business for £4.0m
NCC Group plc (LSE: NCC, "NCC Group" or "the Group"), the international, independent provider of Escrow, Assurance and Domain Services, has acquired Danish based FortConsult A/S ("FortConsult") an independent security testing services provider, for a maximum consideration of £4.0m in cash.
Highlights
· FortConsult is one of the leading Nordic security testing services providers, based in Denmark, with many complementary European blue chip clients
· Increases NCC Group's presence in mainland Europe which will further enable the Group to provide its customers with one-stop testing services across Europe
· Total consideration of £4.0m, initially £2.0m, with one further payment of up to £2.0m over next 24 months against performance related targets
· Earnings enhancing and financed from existing debt facilities and internally generated cash flow.
Rob Cotton, NCC Group Chief Executive, said:
"FortConsult is a highly respected security testing operator, which will increase our presence and profile in the Nordic region and mainland Europe. It will also bring a number of leading blue chip technology customers to the Group.
"The management team is staying with the business and we are confident that they will continue to enhance FortConsult's reputation by benefiting from our experience in growing security testing businesses."
NCC Group expects to publish its year end results on 3 July 2014.
Enquiries:
NCC Group (www.nccgroup.com) | 0161 209 5432 |
Rob Cotton, Chief Executive | |
Atul Patel, Group Finance Director | |
Instinctif Partners | |
Adrian Duffield Kathy Gordon | 020 7457 2020 |
Notes to Editors
Strategy
Over the last 14 years the Group has secured a leading global position in security research, testing, advice and forensics as well as web performance testing through a combination of organic and acquired growth.
The purchase of FortConsult is the Group's tenth in the network testing and software security space and the first in mainland Europe.
The acquisition will enable NCC Group to offer a wider geographical coverage to clients and offer FortConsult clients an expanded service offering.
FortConsult
FortConsult is an independent security company working with enterprises to pinpoint and eradicate security flaws in applications, systems and networks.
The company was established in 2002 by the current management team, is headquartered in Copenhagen and employs 25 full time employees and 15 associates, most of whom are testers.
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