SilverSky to be Acquired by BAE Systems

Strategic Acquisition by BAE Systems will Accelerate Time to Leadership within Commercial Security Market

News provided by

Oct 21, 2014, 07:00 ET

NEW YORK, Oct. 21, 2014 /PRNewswire/ -- SilverSky, the leading independent provider of cloud-based security software and managed services, today announced 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, commented: "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.

About SilverSky
SilverSky is the leading independent cloud-based managed security services provider. Our Security-as-a-Service platform delivers cloud-based software and managed services, such as Email Protection Services with advanced Data Loss Prevention, Targeted Attack Protection, Network Security Services, and Managed Application Services, that protect critical information simply and cost effectively. By tirelessly safeguarding our customers' most important information, we enable growth-minded leaders to pursue their business ambitions without security worry. Our growing customer base includes 5,500 customers in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors. For more information, visit SilverSky.com.

About BAE Systems and BAE Systems Applied Intelligence

At BAE Systems, we serve the needs of our customers by delivering a wide range of advanced defense, aerospace and security solutions that provide a performance edge. We work together with local partners to develop, engineer, manufacture and support the innovations that increase defense sovereignty, sustain economies and safeguard commercial interests. With more than 80,000 employees in six continents, we are committed to creating solutions that protect and strengthen nations, commerce, communities and people.

BAE Systems Applied Intelligence is a business division of BAE Systems that delivers solutions that help clients to protect and enhance their critical assets in the intelligence age. Our intelligent protection solutions combine large-scale data exploitation, 'intelligence-grade' security and complex services and solutions integration. We operate in four key domains of expertise: cyber security, financial crime, communications intelligence and digital transformation.

For further information about BAE Systems Applied Intelligence, please visit www.baesystems.com/ai

Logo - http://photos.prnewswire.com/prnh/20130131/NE51633LOGO

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/silversky-to-be-acquired-by-bae-systems-960273529.html

SOURCE SilverSky