BAE divests SilverSky commercial cybersecurity business

BAE Systems last month sold off its commercial cybersecurity business to a private investor group.

According to BAE, the company divested its SilverSky business "to fully focus on the areas in which we excel -- selling and delivering enterprise-grade solutions to large, complex organizations and nations."

"This decision will help the Applied Intelligence business to focus its efforts and investment on the core business areas where we have deep domain expertise and market-leading positions in order to maintain profitable, long-term growth," the contractor added.

Two executives who helped build SilverSky, Richard Dobrow and Cary Conrad, participated in the purchase and will take leadership roles. Dobrow was a past chief executive of Perimeter eSecurity, which was later renamed SilverSky. Conrad is the former president of Integralis AG.

Now, Dobrow will again be CEO, while Conrad will lead business development initiatives.

SilverSky, which has operated since 1997, has more than $50 million in annual sales and more than 3,000 customers. It focuses on organizations with strict security and compliance requirements, such as banks, healthcare companies and insurance firms.