NCC Group plc (NCC.L) said it has acquired US-based Intrepidus Group, Inc. for a maximum consideration of 7.1 million pounds, or $11.0 million, in cash. The acquisition will be financed from existing debt facilities and internally generated cash flows.
Intrepidus is a US security testing services provider with many blue chip clients particularly in the telecommunications and financial services sectors.
Initially, 3.7 million pounds has to be paid, then two further payments of up to 3.4 million pounds in total over the next 24 months against performance related targets.
The acquisition substantially increases NCC Group's presence in New York where it now has the largest testing team.
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by RTT Staff Writer
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