Manchester cyber security firm makes $18.75m acquisition
Manchester’s NCC Group has acquired Payment Software Company Inc, for $18.75m in cash.
PSC is a Silicon Valley based provider of cyber security, payment and compliance consulting services to the global payments industry. It also works within the financial and retail sectors.
The move means that NCC Group has an expanded presence in the Payment Card Industry sector.
The company will pay an initial sum of $15m and then 2 further payments of $1.875m each over the next 2 years - subject to performance.
Rob Cotton, NCC Group’s chief executive explained that the move was part of a wider strategy to acquire business across Europe and North America:
“PSC is one of a very few companies that can provide expert services and solutions to organisations that require specialist compliance, consulting and cyber security testing services in the substantial and growing global payments industry.
“The addition of PSC, with its quality management team, is an extremely good fit with the rest of our cyber security capabilities. Its Board level relationships provide us with an opportunity to improve our customer penetration and bolster our global capabilities, particularly in the US.”