Defence company Ultra Electronics has acquired AEP Networks for around $75 million.
The company acquired AEP for its links to the UK Government's National Technical Authority for secure electronic communications and to advance its "strategy in the growing cyber security domain".
Ultra's systems, equipment and services were said to be mission-critical to the operation of the platforms run by defence, security, transport and energy organisations.
Ultra said the move will add network and cloud-based security technologies, along with hardware security modules for the protection and distribution of cryptographic keys and secure, modular communication systems for voice and data aggregation over multiple bearers.
Chief executive Rakesh Sharma said: “AEP provides important complementary technologies and products to advance Ultra's strategy in the growing cyber security domain".
“AEP is a technology-rich company with strong intellectual property and wide global reach, operating in a fast-growing marketplace.”
An initial cash consideration of $57.5m was paid and a further sum of up to $17.5m will be paid on 31 December,
This article originally appeared at scmagazineuk.com
Copyright © SC Magazine, UK edition
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