BAE Systems has announced that its purchase of cloud security firm SilverSky has been finalised for £144.4 million.
The deal, which was initially announced in October, will see BAE acquire SilverSky’s 400 employees and gain access to an estimated 5,500 customers across a wide range of industries.
BAE’s chief executive Ian King explained that SilverSky’s cloud focus will enable his company to expand its portfolio and more effectively target US businesses.
“SilverSky’s cloud-based email and network security solutions complement our existing portfolio and increase our presence in the US, a very significant market for IT security,” he said.
In an interview with V3, Tim Harvey, the former CEO of SilverSky now joining BAE’s Applied Intelligence unit, said that the purchase helps the firm stay up-to-date with the latest threats.
“Attacks are no longer aimed at the big financial sector firms, but increasingly at small and mid-market firms too, regardless of industry type,” he added.
“It’s important for businesses to understand these threats and how they can affect you, and we look to help provide that knowledge.”
In particular, Harvey highlighted the increasing use of cyber weapons by organised crime groups, some of which contain members with extensive training in online crime. SilverSky has been monitoring the situation and believes greater education amongst business and state governments is needed to curb these persistent attacks.
As cloud infrastructure takes on a more prominent role for a number of businesses, security is increasingly focusing on this particular sector. Last week, for example, Box unveiled a security partnership between 19 different companies called Box Trust, which should provide a more secure cloud ecosystem for businesses.