NCC Group to sell Escode in $369m deal with TDR affiliates

Core Insights - UK-based cybersecurity firm NCC Group has agreed to sell its Escode business to TDR Capital for an enterprise value of £275m ($369.2m) [1] - The divestment aligns with NCC's strategy to streamline operations and focus on core cybersecurity services [2] Financial Details - The agreed gross consideration for the Escode deal is £309.1m, with net proceeds expected to be approximately £262.4m after completion adjustments and transaction costs projected at around £10m [5] - Cumulative enterprise value from the sale of Escode and previous non-core divisions is expected to be approximately £349m [3] Strategic Focus - The sale of Escode allows NCC to concentrate on accelerating growth in its core cybersecurity resilience business [4] - NCC plans to consult with shareholders on returning a significant portion of the proceeds from the sale [6]