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April 15, 2015

Marlin buys Fidelis amid General Dynamics refocus

Defence firm wants to skim off its commercial side.

By

Marlin Equity Partners has agreed to buy Fidelis Cybersecurity Solutions as it prepares to expand into the growing cybersecurity market.

The deal, agreed with current Fidelis owner and defence firm General Dynamics, is expected to go ahead in the second quarter of 2015 for an undisclosed sum.

Peter Chung, a principal at Marlin, said: "Marlin is very excited to partner with Fidelis’ world class management team to expand and grow the company’s industry-leading solutions.

"As global cybersecurity threats continue to become more prevalent, Fidelis’ technology is uniquely positioned to help customers defend themselves against advanced malware attacks and internal and external data theft."

General Dynamics spokeswoman Lucy Ryan told the newswire Reuters that the sale of Fidelis was part of her company’s effort to refine its focus around the government sector.

"We have a comprehensive and robust government-focused cybersecurity portfolio, and we are continuing to invest resources in technology development to ensure we deliver resilient, relevant and innovative solutions that support mission needs," she said.

Peter George, the current president of the Fidelis unit, will become chief executive of the independent company as it seeks to promote its flagship cyber-defence platform Fidelis XPS.

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The firm currently serves clients in finance, health, retail, technology, government and infrastructure.

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