IT security business NCC Group has acquired Wilmslow-based SDLC Solutions in a £15m deal.
SDLC, an IT testing company, has been bought for an initial consideration of £7.75m in cash, with two further payments of up to £7.25m against performance related targets over the next 26 months.
Manchester-based NCC said the deal would allow it to provide a wider range of information security assurance services.
It has a £25m bank facility with the Royal Bank of Scotland to fund acquisitions and last month bought Warrington-based Meridian Services International for up to £3m, after previously making swoops in the UK, US and Europe.
SDLC posted revenues of £12m for the year to April, 2010 and has an £11m order book for the next financial year, with much of its business coming from recurring contracts with blue chip corporations.
It employs more than 70 full time staff and over 60 associates.
It will be managed autonomously by SDLC’s existing management team and will trade as SDLC Solutions, a NCC Group company.
NCC provides IT security testing and ‘escrow’ services that enable customers to copy software programme codes to protect them if a supplier goes bust,
Chief executive Rob Cotton said: “SDLC is one of the UK’s most respected testing services companies.
“Its addition to the group will enable us to provide a total assurance service by including functional testing.
“We are now able to offer our clients the ability to mitigate risk throughout every stage of their IT infrastructure, software and information security decision making.
“Introducing our information security services and clients to SDLC’s extensive expertise will further strengthen our position, whilst we will be able to provide a wider range of services to SDLC’s client base.”
“We are confident that the management team will continue to maintain their excellent track record of revenue and profit growth, supported by our resources and the Group’s wider client base.”
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