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https://www.ft.com/content/f0bd1586-a2a8-11e6-82c3-4351ce86813f
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https://www.ft.com/content/f0bd1586-a2a8-11e6-82c3-4351ce86813f
C5 Capital has bought ITC Secure Networking for £24m, after the cyber security company spurned approaches of larger trade buyers.
ITC was established in 1995 by New Zealand backpacker Tom Millar and serves customers including British American Tobacco, SABMiller and BT with managed cyber security services. It had revenues of £14.5m in its last financial year.
Mr Millar said he had resisted approaches by larger technology companies, while some of his closest competitors had been bought out, including Vistorm Holdings, bought by EDS in 2008, and Counterpane Security, bought by BT in 2006.
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