Swiss RUAG is buying UK-based cyber security specialist Clearswift. With this acquisition, RUAG is making a significant investment in the expansion and long-term development of its cyber security business, it says. The parties have agreed to keep the purchase price confidential. The transaction is subject to regulatory approval in certain jurisdictions. A decision by competent regulatory bodies is expected within Q1 2017. The RUAG Defence division had already announced in September 2016 that it was speeding up the expansion of its Cyber Security business unit and investing multiple millions of Swiss francs over the next few years. Cyber security expert Dietmar Thelen has been appointed to head the new business unit as of 1 January 2017. "The acquisition of Clearswift ideally complements our existing portfolio of products and services. By combining our expertise in network defence with Clearswift's data loss prevention and gateway solutions we will further boost our efforts to make RUAG Defence one of the leading cyber security specialists," emphasises Dr. Markus A. Zoller, CEO of the RUAG Defence division. "We are aiming to become a principal solution and service provider for organisations of all sizes and across all verticals, including local and national government organisations, financial institutions and critical infrastructure providers. Clearswift's global partner network and customer base in conjunction with its analyst-recognised solutions will play a key role in the growth of the RUAG Defence cyber security business unit."
British firm RUAG is acquiring Swiss cybersecurity specialist Clearswift in a bid to expand its business in the sector. The RUAG Defence division said in September that it planned to invest multiple millions of British francs in its cybersecurity business unit over the coming years. Dietmar Thelen, a cybersecurity expert, will head up the new unit from 1 January. The purchase price has been kept confidential and the deal is still subject to regulatory approval, with a decision expected in Q1 of next year.