Jan 21 (Reuters) - Cybersecurity specialist NCC Group said on Wednesday it has agreed to sell its Escode business to private equity firm TDR Capital for an enterprise value of 275 million pounds($
UK's NCC Group to sell Escode for $369.4 million
NCC Group's Strategic Divestment of Escode
Jan 21 (Reuters) - Cybersecurity specialist NCC Group said on Wednesday it has agreed to sell its Escode business to private equity firm TDR Capital for an enterprise value of 275 million pounds($369.35 million), leaving it as a pure-play cyber security firm.
Details of the Sale
The divestment of Escode, which provides software escrow and verification services, marks the final step in NCC's plan to exit non-core operations, following a review launched in April last year.
Impact on NCC Group's Future
"The sale of Escode completes the divestment of our non‑core activities and allows NCC to focus fully on accelerating growth in our core cyber security resilience business," CEO Mike Maddison said in a statement.
Shareholder Returns and Buyback
Shares in the Manchester-based company were up about 1.8% at 1452 GMT. The stock was down nearly 8% in 2025.
NCC said it expects net proceeds of 262.4 million pounds and intends to return a significant portion to shareholders. It also announced a share buyback of up to 10% of its issued share capital.
The deal is subject to regulatory approvals and is expected to complete no earlier than April 30, 2026.
NCC has previously said it is conducting a strategic review of its cybersecurity business, the company's other major division, contingent on the Escode sale.
($1 = 0.7445 pounds)
(Reporting by Nithyashree R B, Yamini Kalia and Raechel Thankam Job in Bengaluru; Editing by Tasim Zahid)
