A £5.4m takeover deal has been agreed between the boards of Bradford-based cyber security firm ECSC and Daisy Group.
The move means that London-listed ECSC, which provides protection and detection services to other business, will become part of the privately owned, North West-based IT and communications group if shareholders approve the deal. In an update to investors, ECSC said Daisy's directors saw the firm as a good fit for its Daisy Corporate Services business.
The firm also said its current strategy would likely take a period of time to carry out and that it might need to access additional growth capital, which it did not think would be available on the capital markets at a price that would benefit shareholders. Daisy's acquisition, ECSC said, would provide the resources required to scale and remove the costs and regulatory constraints of being a listed company.
