BAE Systems to buy SilverSky

BAE Systems Military Air and Information business at its Warton aerodrome in Lancashire
BAE Systems Military Air and Information business at its Warton aerodrome in Lancashire
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BAE Systems said it would buy US-based company SilverSky in a $232.5 million (£143.83m) deal to boost its exposure to the commercial cyber security market.

BAE Systems said in a statement that the acquisition, which it will fund from existing cash resources, will be accretive to earnings in the third year following closing.

SilverSky is the trading name of Perimeter Internetworking Corp, BAE Systems said, adding that the deal would boost its own Applied Intelligence business which focuses on commercial cyber security.

“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,” BAE’s chief executive Ian King said in a statement.

“The enlarged business has outstanding growth opportunities.”