Detica acquisition cleared by the Office of Fair Trading

by Editor 9/16/2008 4:32:00 PM
BAE System’s £531 million acquisition of IT services firm Detica has been cleared by the Office of Fair Trading.

The UK defence contractor made the initial offer for Detica in July, which was also its first major step forward into the national security sector. Detica supplies software and IT services to the government as well as to a number of high profile corporate clients. A major chunk of Detica’s annual revenue (£203 million in the year to March 2008), comes from government contracts.   

BAE sees national security as a key new area for expansion and expects the UK’s national security market to double to more than £3 billion by 2011. The defence contractor is likely to make more acquisitions in the area.

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