NCC Group PLC Acquisition of US cyber security consultancy (9882O)
11 November 2016 - 11:00PM
UK Regulatory
TIDMNCC
RNS Number : 9882O
NCC Group PLC
11 November 2016
11 November 2016
NCC Group plc
Acquisition of Boston-based US cyber security consultancy for up
to $6m
NCC Group plc (LSE: NCC or "the Group"), the independent global
cyber security and risk mitigation expert, has acquired Virtual
Security Research, LLC ("VSR") for a maximum consideration of $6m
in cash.
VSR (https://www.vsecurity.com/) is an information, network and
application security consultancy based in Boston, Massachusetts. It
provides services to US corporate clients, including several in the
Fortune 500, mainly in the technology and financial services
sectors.
Highlights
-- VSR was established in 2004 and has a reputation for the
technical ability of its senior security consultants and the
quality of its services
-- VSR's founder and senior management team are remaining with the business
-- VSR is based in Boston's financial district and is an
important addition to the Group's US office network
-- VSR will provide a foundation stone into Boston and that part
of the north-eastern region of North America
-- Total consideration of up to $6m comprising an initial
payment of $4m (subject to completion adjustments) and two further
annual payments of up to $1m each, dependent on performance related
targets
-- Earnings enhancing and financed from existing debt facilities
and internally generated cash flow
Rob Cotton, NCC Group Chief Executive, said:
"This earnings enhancing acquisition is part of our strategy to
acquire services-led businesses in North America, to further
complement our geographical presence and technical strength in the
region.
"VSR is an important addition to our US office network and will
provide a foundation stone to grow our coverage in Boston and in
the North East of the US."
Enquiries:
NCC Group (www.nccgroup.trust) +44 (0)161 209 5432
Rob Cotton, Chief Executive
Instinctif Partners
Adrian Duffield/Lauren Foster +44 (0)20 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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