Security VAR Accumuli is to be snapped up by IT services outfit NCC Group in a move the latter claims will bolster its presence in the security space.
Manchester-headquartered NCC Group was founded in 1999 and specialises in security services and consulting.
The company's cash and share deal – which is subject to certain conditions before it closes – valued Accumuli at £55m.
Investment firms MXC Capital and Oakley Capital advised Accumili directors and said the terms were "fair and reasonable".
NCC Group's chief executive Rob Cotton said: "The addition of Accumuli will enable us to provide a wider and more comprehensive range of security solutions and services. In this dynamic and rapidly growing international market, customers are now looking for the type of 24/7 operational security support and incident management offered by Accumuli in addition to our consulting capabilities.
"We have already been bidding jointly together on a number of projects, and with Accumuli as part of the group, we will be able to bid for complex projects in a sole capacity. The acquisition provides an opportunity to develop our core consulting business across a wider customer base."
Nick Kingsbury, non-executive chairman of Accumuli, said the deal would be highly beneficial to its customer base.
AIM-listed Accumuli posted a trading update today ahead of its financial year ending on 31 March which said it expects its revenues to be about £27m, up from £16.6m in its last financial year. It attributed this rise in revenues to its growth in the managed services space and its recently acquired reseller, ArmstrongAdams, performing ahead of expectations.
Commenting on the deal, Anthony Miller, managing partner at TechMarketView, hinted that the move could see NCC build a new security division into its structure.
"Clearly NCC is keen to boost its credentials in the security market," he said. "It already has a security consulting business under the covers of its Assurance (testing and web performance) division which has worked alongside Accumuli at some mutual customers.
"This rather raises the question of whether or not NCC Group's 'business of three halves' (Assurance, Escrow, Domain Services) will soon become one of four halves, given that its enlarged security activities will dwarf testing and web performance revenues."
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