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03 October 2016, 7.00 am London, UK
Acquisition of EWA-Canada
Intertek acquires a leading cyber security assurance business
Intertek Group plc (Intertek), a leading Total Quality Assurance provider to industries worldwide, is pleased to announce that it has acquired EWA-Canada from Electronic Warfare Associates Inc.
EWA-Canada is a highly respected expert in cyber security and provides industry leading solutions to a broad range of industries. Its service portfolio includes IT network security solutions for network carriers, product security evaluations according to the Common Criteria standard, network security evaluations as well as other IT assurance services.
It is estimated that there will be more than 20 billion connected devices by 2020 and as the Internet of Things (IoT) grows and more products and devices are connected wirelessly, secure connections, together with reliable connectivity and dependable power, are becoming increasingly important. Intertek already has multiple testing capabilities for reliable power and connectivity and EWA-Canada will enable Intertek to also perform security evaluations on both products and networks. Intertek will provide customised security assurance solutions to its existing customers as well as expand EWA-Canada's current customer base to new geographies and industries.
Commenting on the acquisition, André Lacroix, Chief Executive Officer of Intertek, said: "The acquisition of EWA-Canada with its leading cyber security assurance solutions will broaden our Total Quality customer offering to seize the attractive growth opportunities in the fast growing IoT market. The expansion of our Assurance, Testing, Inspection, and Certification differentiated value proposition in cyber security is in line with our portfolio strategy of investing in fast growing businesses with good margin prospects. We are delighted to welcome EWA-Canada and its team to Intertek."
EWA-Canada is headquartered in Ottawa, Canada and employs 54 people. The business generated revenues of c. C$15 million in 2015.
A video describing the transaction in more detail can be viewed at www.intertek.com/investors/
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For further information please contact
Telephone: +44 (0) 20 7396 3400 [email protected]
Jonathon Brill, FTI Consulting
Telephone: +44 (0) 20 3727 1000 [email protected]
Intertek is a leading Total Quality Assurance provider to industries worldwide. Our network of more than 1,000 laboratories and offices and over 40,000 people in more than 100 countries, delivers innovative and bespoke Assurance, Testing, Inspection and Certification solutions for our customers' operations and supply chains.
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This information is provided by RNS