Former CEO spearheads purchase of Morrisville cybersecurity firm from giant BAE Systems

MORRISVILLE – A team led by a former CEO, current management and with the help of financing from SQN Venture Partners has acquired cybersecurity firm SilverSky, a $50 million annual revenue firm with some 3,000 customers worldwide, from tech giant BAE Systems.

The deal for the Morrisville-based firm took place on Nov. 3 but was not formally disclosed until Wednesday.

SilverSky was part of BAE Systems Applied Intelligence US.

BAE Systems acquired SilverSky in 2014 for $235 million.

Terms of the purchase weren’t disclosed.

Leading the new management team is Richard Dobrow, who was CEO of SilverSky when it was known as Perimeter eSecurity. He most recently helped found outSOC [security operations center]. Dobrow will serve as chair and CEO.

SilverSky has operated since 1997.

Cary Conrad, a former president of Integralis AG, will lead business development efforts.

“Many of our original customers are still with the Company and we are thrilled to be in a position to re-engage with them and assist them in driving their businesses forward,” Dobrow and Conrad said in a joint statement.