Last checked at 11 Nov 2016 12:00
11 November 2016
NCC Group plc
Acquisition of Boston-based US cyber security consultancy for up to $6m
NCC Group plc (LSE: NCC or "the Group"), the independent global cyber security and risk mitigation expert, has acquired Virtual Security Research, LLC ("VSR") for a maximum consideration of $6m in cash.
VSR (https://www.vsecurity.com/) is an information, network and application security consultancy based in Boston, Massachusetts. It provides services to US corporate clients, including several in the Fortune 500, mainly in the technology and financial services sectors.
Highlights
· VSR was established in 2004 and has a reputation for the technical ability of its senior security consultants and the quality of its services
· VSR's founder and senior management team are remaining with the business
· VSR is based in Boston's financial district and is an important addition to the Group's US office network
· VSR will provide a foundation stone into Boston and that part of the north-eastern region of North America
· Total consideration of up to $6m comprising an initial payment of $4m (subject to completion adjustments) and two further annual payments of up to $1m each, dependent on performance related targets
· Earnings enhancing and financed from existing debt facilities and internally generated cash flow
Rob Cotton, NCC Group Chief Executive, said:
"This earnings enhancing acquisition is part of our strategy to acquire services-led businesses in North America, to further complement our geographical presence and technical strength in the region.
"VSR is an important addition to our US office network and will provide a foundation stone to grow our coverage in Boston and in the North East of the US."
Enquiries:
NCC Group (www.nccgroup.trust) | +44 (0)161 209 5432 |
Rob Cotton, Chief Executive |
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Instinctif Partners |
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Adrian Duffield/Lauren Foster | +44 (0)20 7457 2020 |