Stock market today: S&P 500 hits fresh record close on stronger economic growth
LONDON - NCC Group (LON:NCCG) plc (LSE: NCC (NSE:NCCL)), a global cyber security and software escrow company, has announced the completion of the sale of its non-core business, Fox Crypto B.V., to CR Group Nordic AB. The transaction, which took place today, involved a total consideration of €78.5 million (approximately £65 million).
The sale is part of NCC Group ’s strategic move to streamline its operations and focus more on its core cyber security business. Fox Crypto, which was part of NCC Group’s European Cyber division based in the Netherlands, generated revenue of around £18 million and EBITDA of approximately £4 million in the 12 months leading up to May 31, 2024. The sale price represents a 2024 EBITDA multiple of 16.5 times.
NCC Group stated that the disposal of Fox Crypto will not affect the group’s ongoing cyber capabilities as it was a standalone entity within the organization. The proceeds from the sale will be used to repay the group’s revolving credit facility (RCF) borrowings, reduce net debt, and support growth in the cyber security sector. Following the disposal, NCC Group’s net debt as of March 31, 2025, is expected to be between nil and £3.0 million.
The transaction aligns with NCC Group’s transformation strategy, which aims to simplify the business structure and create a more focused cyber security entity. The group believes that both its Cyber and Escode businesses will continue to provide a diversified portfolio effect and offer clear opportunities for growth, potentially enhancing shareholder value.
NCC Group is scheduled to release its interim results for the period ending March 31, 2025, on June 19, 2025, and will host an immersive cyber security capability event on May 1, 2025. The information in this article is based on a press release statement from NCC Group plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.