US giant Juniper bites off webby arm of Basingstoke's security boys
Webscreen sale nets $10m for Brit security player Accumuli
Brit managed security services player Accumuli has sold its Webscreen Systems Ltd (WSL) subsidiary to US giant Juniper Networks for $10m (£6.37m).
AIM-listed Accumuli picked up DDoS software maker WSL as part of the Boxing Orange acquisition it made in March 2011, a deal which cost it £5.48m in total - meaning that outlay has been more than covered.
As a result of the sale, Accumuli will retain rights to resell the software but hand development of the tech to a firm with a global platform.
"Accumuli's decision to divest the WSL business will allow the company to focus on its core strategy and competencies," said Gavin Lyons, CEO at Basingstoke-based Accumuli.
He said the cash haul from the sale gives Accumuli the funds to build market share in the security services sector and develop its intellectual property and platform.
Juniper veep of counter security David Koretz said in a scanned statement the buy gives Juniper another tool to protect "customers and their data centre".
WSL has only four full-time staffers, including three techies and a sales bod, all of whom will transfer with the business to the new owners. ®