PRESS: Asda owner TDR close to buying NCC's Escode for PS275 million
NCC Group PLC and Asda owner TDR Capital are in late-stage talks for the sale of NCC division Escode, Sky News reported on Sunday.
NCC, a cybersecurity and software escrow company based in Manchester, England, will be a pure-play cybersecurity service business if the deal completes. Sky said it would reposition the remaining unit towards higher-value recurring revenue streams.
‘Banking sources’ told Sky that the firms could complete a deal for Escode, which specialises in software escrow and verification services, early this week. Escode ‘has been the subject of acquisition talks since last summer.’
Private equity company TDR, which has a controlling stake in supermarket chain Asda, is now ‘closing in’ on a £275 million acquisition.
Other buyout companies said to have shown interest included Cap10, Platinum Equity and Montague Private Equity, Sky noted.
The news follows Sky’s announcement last summer that NCC had appointed advisors to explore the sale of its cybersecurity business.
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