BAE Systems has entered into a definitive agreement to acquire Perimeter Internetworking Corp., which trades as SilverSky, for $232.5 million.
SilverSky is a cloud-based managed security services provider with approximately 5,500 customers. The company provides a mix of email security, managed network security and other offerings to its customer base.
“The acquisition of SilverSky enhances our strategy to grow BAE Systems’ Applied Intelligence commercial cyber security business,” said Ian King, chief executive officer at BAE Systems, in a statement. “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 capabilities.”
“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,” he added. “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.”
According to SilverSky, the acquisition is expected to strengthen their existing footprint in the managed services marketplace with a focus on innovative cloud-based security solutions.
“BAE Systems Applied Intelligence delivers solutions that help clients to protect and enhance their critical assets in the intelligence age,” said Tim Harvey, CEO of SilverSky, in a statement. “This acquisition will further strengthen our ability to deliver the most comprehensive set of cloud-based security software and managed services. Our customers will benefit from BAE Systems’ global presence and history of continued innovation. The management team and employees are excited to be part of BAE Systems and Applied Intelligence.”
The acquisition is conditional upon receiving certain regulatory approvals, and is expected to close before the end of the year.