11 Nov 2016 12:00
11 November 2016
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NCC Group plc
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Acquisition of Boston-based US cyber security consultancy for up to $6m
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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.
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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.
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Highlights
路 VSR was established in 2004 and has a reputation for the technical ability of its senior security consultants and the quality of its services
路 VSR's founder and senior management team are remaining with the business
路 VSR is based in Boston's financial district and is an important addition to the Group's US office network
路 VSR will provide a foundation stone into Boston and that part of the north-eastern region of North America
路 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
路 Earnings enhancing and financed from existing debt facilities and internally generated cash flow
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Rob Cotton, NCC Group Chief Executive, said:
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"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.
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"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."
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Enquiries:
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NCC Group (www.nccgroup.trust) | +44 (0)161 209 5432 |
Rob Cotton, Chief Executive | 聽 |
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Instinctif Partners | 聽 |
Adrian Duffield/Lauren Foster | +44 (0)20 7457 2020 |
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