17 December 2013
Babcock International Group PLC
Acquisition of Context Information Security
Babcock International Group PLC (Babcock, the Group), the UK's leading engineering support services company, announces that it has acquired Context Information Security (ContextIS) for £28 million plus deferred consideration of £4 million payable in 2016. The acquisition will complete immediately.
ContextIS, based in London, with offices in Germany and Australia, provides specialist technical consultancy services in the cyber security market. ContextIS has a strong reputation in a rapidly growing market as one of the few companies certified under the new Government Cyber Incident Response scheme that can respond when organisations are threatened by sophisticated cyber-attack. ContextIS's customers are typically public sector bodies or private companies that own or manage critical infrastructures that impact on national economic well-being. As a Government-accredited supplier, ContextIS provides its customers with the ability to protect their indispensable and valuable information and secure their critical infrastructure.
Babcock's customers operate complex systems in highly regulated environments and increasingly need to protect their information systems. ContextIS will operate alongside our other consultancy businesses and the acquisition significantly augments our capabilities to provide support and assurance in the delivery of resilient solutions to our customers' issues.
In the financial year ended 31 May 2013 ContextIS generated revenue of c £10 million.
Peter Rogers, Chief Executive of Babcock, commented:
"ContextIS is a leader in cyber security consulting services. We have worked with ContextIS for some time and it is clear its specialist knowledge, intellect and experience will help us broaden our services in cyber infrastructure, where our customers have a paramount requirement for assurance and system availability. The acquisition of ContextIS and its combination with our existing expertise in systems engineering creates a strong platform that will enhance the range of services we offer our clients and enable us to expand into new markets."
Enquiries |
|
|
|
Babcock International Group PLC |
020 7355 5300 |
Bill Tame - Finance Director |
|
Terri Wright - Head of Investor Relations |
|
|
|
FTI Consulting |
020 7269 7291 |
Andrew Lorenz |
07775 641 807 |
Nick Hasell |
07825 523 383 |
