BAE’s SilverSky acquisition to bolster its cyber growth strategy

BAE has acquired commercial cyber service provider Perimeter Internetworking, which trades as SilverSky, for $232.5m as part of efforts to bolster its cyber security offerings.

BAE Systems chief executive Ian King said: "The acquisition of SilverSky enhances our strategy to grow our Applied Intelligence commercial cyber security business.

"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."

Set to be completed by the end of 2014, the acquisition would offer BAE’s corporate customers with a set of products and services aimed at defending critical information and networks and detect cyber threats and financial crime.

The Greater New York Area-based cloud managed security services provider employs about 400 individuals and offers services, including email protection, network security and managed applications.

SilverSky delivers its services to a range of customers in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors.

The company is expected to generate $75m in revenues through its sales by the end of 2014.