BAE Systems completes acquisition of SilverSky for £144.4m

Defence and security group BAE Systems has completed the acquisition of commercial cyber service provider Perimeter Internetworking, which trades as SilverSky, for £144.4m.

The firm said that the acquisition of the New York-based company, a commercial cyber services and compliance provider, was entirely funded from its existing cash resources.

"SilverSky's cloud-based email and network security solutions complement our existing portfolio and increase our presence in the United States, a very significant market for IT security,” said group chief executive Ian King.

Separately, the group has also entered an agreement with Esterline Corporation for the acquisition of Texas-baed Eclipse Electronic Systems (EES), which provides intelligence, surveillance and reconnaissance products and services to the US defence for approximately £17.8m.

"This proposed acquisition fully aligns with BAE Systems' strategy to invest in advanced technologies critical to US national security and defence needs,” said the group chief operating officer Tom Arseneault.