NCC bags security services outfit Accumuli for £55m
UK firm's 'business of three halves' may soon have four halves?
Managed security services outfit Accumuli has been snapped up by rival NCC for a sum of £55m.
Both firms reported a strong increase in turnover last year, according to their Companies House filings.
Accumuli's revenue rose 18 per cent to £16.6m in 2014. NCC Group recorded revenue of £110.7m, up 12 per cent. Pre-tax profit were up around 10 per cent to £25.3m.
Accumuli also posted a trading update that it expects revenue to hit £27m by the end of March "due to strong second-half performance."
"Accumuli is notably aligned with us in the security space and brings valuable new capabilities and will enable us to expand our development teams," said Rob Cotton, chief executive officer at NCC Group.
"We have already been bidding jointly together on a number of projects, and with Accumuli as part of the Group, we will be able to bid for complex projects in a sole capacity. The acquisition provides an opportunity to develop our core consulting business across a wider customer base," he added.
Anthony Miller, analyst at TechMarketView, said the move signals NCC's desire to boost its credentials in the security market.
He said: "This rather begs the question whether NCC Group’s ‘business of three halves’ – Assurance, Escrow, Domain Services – will soon become one of four halves, given that its enlarged security activities will dwarf testing and web performance revenues." ®