Mergers and Acquistions News
Categories: IT Services & Consulting
November 27th 2008, 16:23PM
The NCC Group has acquired Manchester-based Next Generation Security Software (NGSS) for a cash consideration of up to £10 million.
It is the third purchase by the escrow solution, assurance testing and consultancy firm in less than two years and is a move aimed at strengthening the group's position the fast-growing security sector.
Commenting on the move, Rob Cotton, NCC Group chief executive, said: "This acquisition is an important step in our development of the assurance division and clearly fits with our strategy of being market leader in the area of web security and associated testing."
The deal will see as much as £5.2 million paid to NGSS on completion, dependent on the firm's balance sheet at the time.
A further performance related payment of up to £4.8 million will also be made, most likely in August of next year.
Yesterday, Capgemini revealed that it is to acquire Czech firm Sophia solutions for an undisclosed sum.
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