In a move to boost its security portfolio, BAE Systems will pay $232.5 million to acquire cloud-based security provider Perimeter Internetworking Corp., which trades as SilverSky.
SilverSky is a cloud-based managed security services provider with 5,500 customers and provides a mix of email security, managed network security and other offerings.
“The acquisition of SilverSky enhances our strategy to grow BAE Systems’ Applied Intelligence commercial cyber security business,” said Ian King, chief executive at BAE Systems. “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 U.S. 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 said. “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.”
SilverSky said the deal will strengthen its existing footprint in the managed services marketplace.
“BAE Systems Applied Intelligence delivers solutions that help clients to protect and enhance their critical assets in the intelligence age,” said Tim Harvey, SilverSky chief executive. “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 should close before the end of the year.