British defense firm BAE Systems has inked a deal to buy ETI A/S, a Danish cybersecurity firm, for approximately $212 million.
ETI employs nearly 260 people and is headquartered in Denmark with operations in the U.K, United States, and the Asia and Middle East regions.
The acquisition of ETI supports BAE Systems’ strategy to grow its security services business in cyber and intelligence. It follows the acquisition of Detica in 2008 and the recently announced agreements to acquire U.S.-based L1 Identity Solutions, Inc’s Intelligence Services Group and stratsec.net in Australia.
“The combination of Detica and ETI will create a strong competitor well positioned to offer customers an extensive range of cyber and intelligence services,” said Ian King, chief executive at BAE Systems.
The acquisition is conditional, among other things, upon receiving regulatory approval and is expected to close in the first quarter of 2011.