LONDON, Jan. 18 (UPI) -- BAE Systems announced a recommended offer to acquire Norkom Group PLC, a provider of counter-fraud and anti-money laundering solutions.
With headquarters in Dublin, Ireland, Norkom has around 350 employees and its financial crime and compliance solutions are deployed in more than 100 countries, monitoring millions of financial transactions a day for its clients.
BAE said the proposed acquisition is consistent with its strategy to grow its services business in cyber-security and intelligence.
Norkom, coupled with BAE's Detica's information security company and NetReveal software, will create a strong global player for financial crime and compliance products, it said.
"Countering financial crime is a priority for governments and financial institutions," said BAE Systems Chief Executive Officer Ian King. "There is a compelling logic to the combination of Detica's NetReveal product and the complementary capabilities and customer reach of Norkom.
"The combination will result in a significantly enhanced offering for customers and present an opportunity for accelerated growth for the group in the fast growing cyber and intelligence services sector."
The proposed acquisition of Norkom follows BAE Systems' acquisition of Detica in 2008 and the recent agreement to acquire ETI A/S, a leading Danish cyber and intelligence company.
