British defense and security giant BAE Systems said it will pay $232.5 million to acquire Milford cloud security provider SilverSky, which has received investments from Connecticut Innovations, the state’s quasi-public venture arm.
CI participated in a $4 million investment round in SilverSky in 2000, according to Crunchbase, which said the company has raised $108 million total. Goldman Sachs is a major investor.
SilverSky says it has more than 5,500 customers across financial, healthcare, retail and other industries.
BAE said the move is intended to grow its cyber security business.
Details on what return CI will receive on its investment were not immediately available Tuesday morning.
