NCC Group, a provider of IT and escrow, assurance and domain services, announced on Tuesday that has agreed to pay roughly $141.5 million (€133.25 million) to acquire Netherlands-based IT security firm Fox-IT.
The Fox-IT name and company brand will continue to be used and, the company’s current board will remain in place.
NCC says that the acquisition will help it expand in the global cyber security market and provide contextual security analysis, advanced threat intelligence and online fraud detection services.
The company also said that complementary client bases of NCC Group and the Fox –IT should create multiple cross-selling opportunities.
NCC Group said that €108.25 million of the approximately €133.25 million it will pay to acquire Fox-IT for will be paid in cash upon completion of the deal. The company also said that a further €10 million in cash payable and €2.5 million in NCC Group Ordinary Shares are set to be issued on each of the first and second anniversaries of completion.
Back in April, Fox-IT announced the launch of its Cyberthreat Management Platform, a context-driven threat intelligence solution aimed at helping organizations protect their systems against both known and unknown threats. At the Black Hat conference in Las Vegas in August, Fox-IT in collaboration with Crowdstrike revealed new details on the activities and inner workings of the cybercrime group behind the GameOver Zeus malware.
In 2010 NCC Group acquired security services firm iSEC Partners, and acquired security testing and development firm Matasano Security in Aug. 2012. The company also acquired the Intrepidus Group, a security research and testing services provider focused on the mobile sector, in August of 2012.
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