BAE Systems has completed its acquisition of cloud security provider SilverSky for £144.4m. The deal was first announced in October.
SilverSky is headquartered in New York and employs 400 people. The firm has roughly 5,500 customers in markets including retail, healthcare, energy, critical infrastructure and manufacturing.
BAE said at the time that acquiring SilverSky, with its focus on the cloud, is important to help expand its portfolio as more organisations begin using cloud-hosted tools.
Ian King, chief executive of BAE, said that the deal will also help the company to expand its presence in the US.
“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.
Tim Harvey (pictured), former CEO of SilverSky, who will now join BAE's Applied Intelligence unit, told V3 that the deal will expand the firm's ability to reach more customers as the threats to all businesses grow.
“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 said.
“It’s important for businesses to understand these threats and how they can affect you, and we look to help provide that knowledge.”
One area of growing concern that SilverSky has been monitoring is the sophistication in the use of cyber weapons by organised crime groups.
“We used to differentiate between state-sponsored attacks and organised crime, but that line continues to blur. There are now large armies of trained cyber criminals within organised crime who are financially motivated,” he said.
Harvey also said that more education is needed across industry and government to make people understand that the new era of cyber threats is about "persistent, advanced attacks" that require constant defending against.
Efforts to boost cloud security are taking place across the industry as it becomes a key part of many firms' IT strategies.
Box announced the launch of Box Trust last week, a partnership of 19 security and cloud companies to create a vetted ecosystem of third-party applications and software that integrate Box APIs to work with Box in a secure way.
For more on cloud, visit the Intel IT Center.
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