SilverSky to be acquired by BAE Systems
SilverSky, an independent provider of cloud-based security software and managed services, announced on Oct. 21 that it has entered into a definitive agreement to be acquired by BAE Systems plc. SilverSky will be incorporated into BAE Systems’ Applied Intelligence division.
BAE Systems is a global company employing more than 80,000 people worldwide, with a complementary portfolio of security solutions and a history of innovation. SilverSky expects that the acquisition will help strengthen their existing leadership position in the managed services marketplace, and to enhance their customer offering, with a focus on innovative cloud-based security solutions.
SilverSky provides a comprehensive set of cloud-managed security and application services in addition to the most advanced cloud-based email security and threat protection software. Our customers include more than 5,500 organizations in a variety of industries, including financial, healthcare, and retail, as well as a diversified group of mid to large commercial enterprises.
“BAE Systems Applied Intelligence delivers solutions that help clients to protect and enhance their critical assets in the intelligence age,” said Tim Harvey, CEO of SilverSky. “This acquisition will further strengthen our ability to deliver the most comprehensive set of cloud-based security software and managed services. Our customers will benefit from BAE Systems’ global presence and history of continued innovation. The management team and employees are excited to be part of BAE Systems and Applied Intelligence.”
Ian King, Chief Executive, BAE Systems, said, “The acquisition of SilverSky enhances our strategy to grow BAE Systems’ Applied Intelligence commercial cyber security business. SilverSky has an established sales force, a complementary suite of scalable products and a large installed customer base, providing a proven route to commercial markets in the US and other countries for our combined capabilities.
“SilverSky’s cloud-based email and network security solutions, its highly skilled resource in marketing and engineering, plus an experienced management team are an ideal fit for Applied Intelligence. Together, the enlarged business will offer corporate clients a suite of products and services to protect critical information and networks and detect cyber threats and financial crime. The enlarged business has outstanding growth opportunities.”
Moelis & Company acted as exclusive financial advisor to SilverSky. Lowenstein Sandler served as SilverSky’s legal counsel. SilverSky’s investors include Goldman Sachs, Bessemer Ventures, Stripes Group, TTV Capital and Connecticut Innovations.