Bank of America to Acquire UK Cybersecurity Firm MDSec

Bank of America plans to acquire UK-based cybersecurity consultancy MDSec as large financial institutions step up defenses against increasingly sophisticated digital threats. MDSec’s security specialists will add offensive testing, assessment and advisory expertise to the bank’s existing capabilities, supporting its efforts to strengthen cyber resilience in Britain and across its global operations.

The transaction is expected to close in the fourth quarter, Bank of America said, though the purchase price and an exact completion date were not disclosed. Once the deal is completed, about 65 MDSec cybersecurity professionals will join the bank, expanding its in-house talent and technical resources for identifying, evaluating and responding to cyber threats worldwide.