Finance
UK's NCC Group to sell Escode for $369.4 million
Published by Global Banking & Finance Review®
Posted on January 21, 2026
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 21, 2026
2 min readLast updated: January 21, 2026
NCC Group sells Escode to TDR Capital for $369.4M, focusing on cybersecurity. The deal, pending regulatory approval, aims to enhance shareholder returns.
Jan 21 (Reuters) - Cybersecurity specialist NCC Group said on Wednesday it has agreed to sell its Escode business to private equity firm TDR Capital for an enterprise value of 275 million pounds($369.35 million), leaving it as a pure-play cyber security firm.
The divestment of Escode, which provides software escrow and verification services, marks the final step in NCC's plan to exit non-core operations, following a review launched in April last year.
"The sale of Escode completes the divestment of our non‑core activities and allows NCC to focus fully on accelerating growth in our core cyber security resilience business," CEO Mike Maddison said in a statement.
Shares in the Manchester-based company were up about 1.8% at 1452 GMT. The stock was down nearly 8% in 2025.
NCC said it expects net proceeds of 262.4 million pounds and intends to return a significant portion to shareholders. It also announced a share buyback of up to 10% of its issued share capital.
The deal is subject to regulatory approvals and is expected to complete no earlier than April 30, 2026.
NCC has previously said it is conducting a strategic review of its cybersecurity business, the company's other major division, contingent on the Escode sale.
($1 = 0.7445 pounds)
(Reporting by Nithyashree R B, Yamini Kalia and Raechel Thankam Job in Bengaluru; Editing by Tasim Zahid)
Private equity refers to investment funds that buy and restructure companies not listed on public exchanges, aiming to improve their financial performance and eventually sell them for a profit.
A share buyback occurs when a company purchases its own shares from the marketplace, reducing the number of outstanding shares and often increasing the value of remaining shares.
Cybersecurity involves protecting computer systems, networks, and data from digital attacks, theft, and damage, ensuring the integrity and confidentiality of information.
Divestment is the process of selling off a subsidiary or business unit, often to focus on core operations or improve financial performance.
Enterprise value is a measure of a company's total value, often used as a comprehensive alternative to market capitalization, including debt and excluding cash.
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