7th June 2012. US Defence contractor Northrop Grumman Corporation (NYSE:NOC) has announced that it has signed a definitive agreement to acquire privately held M5 Network Security Pty Ltd, a Canberra, Australia-based provider of cybersecurity and secure mobile communications products and services, and advanced analytics to Australian military and intelligence organizations.
The acquisition is subject to Australian government review. Terms of the transaction, which is expected to close later this year, were not disclosed, however the acquisition is not material to Northrop Grumman’s 2012 financial outlook.
“This acquisition enhances our ability to provide innovative, agile and proven cybersecurity and communication solutions to Australian customers,” said Wes Bush, Northrop Grumman chairman, chief executive officer and president.
“M5 Network Security remains committed to maintaining the highest level of performance and service for our customers. We expect that as part of Northrop Grumman, our customers also will benefit from the cybersecurity leadership and extensive resources that Northrop Grumman can bring to M5 Network Security and its employees,” said Matthew Wilson, managing director, M5 Network Security.
M5 Network Security was founded in 2004 by a number of ex SecureNet and ex iSecure (which SecureNEt acquired) personnel in 2004. SecureNet was acquired by beTrusted, which then became CyberTrust, before being acquired by Verizon in 2007. It has approximately 50 employees spread across offices in Melbourne, Canberra and the US.