BAE buying cyber security business

Nov. 29, 2010 at 1:48 PM
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CANBERRA, Australia, Nov. 29 (UPI) -- BAE Systems Australia is acquiring Pty Ltd, an information security company, to increase its cyber and intelligence business in Australia and Asia. Pty Ltd. is headquartered in the Australian capital of Canberra, with offices in Sydney, Melbourne, Singapore and Kuala Lumpur. It has been providing information security consulting and testing services to government and commercial customers since 2004.

"This acquisition supports our strategy to expand our existing information security services, knowledge and experience and is consistent with BAE Systems' strategy to develop its cyber and security business in its home markets," said Jim McDowell, Chief Executive of BAE Systems Australia.

The acquisition, which is conditional upon regulatory approval, is due for completion by the end of this year.

Terms of the agreement were not disclosed.

"The opportunity to be part of BAE Systems is excellent news for Pty Ltd, and our clients and staff," Peter Lilley, chief executive officer of Pty Ltd., said. "We will be able to accelerate our plans to add new cybersecurity capabilities, offering a wider range of services to clients and engage in a greater level of cybersecurity research."

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