Bank of America to acquire information security consultancy MDSec Consulting Limited
Rhea-AI Summary
Bank of America (NYSE: BAC) announced plans to acquire UK-based information security consultancy MDSec Consulting Limited, an information security specialist headquartered in Macclesfield, England with approximately 65 cybersecurity professionals. Completion is expected in the fourth quarter of 2026, subject to regulatory approvals.
According to Bank of America, MDSec provides deeply technical, information security-focused consultancy services. The bank highlights that the planned acquisition will complement its existing cyber threat operations center and wider presence in the North of England, where it already employs more than 1,400 staff in Chester. Bank of America frames the deal as part of its efforts to further enhance its cybersecurity capabilities in the UK and globally, while MDSec’s leadership describes the transaction as an opportunity to expand its “world-class security capabilities” within a large global financial institution.
Positive
- Planned acquisition of MDSec adds approximately 65 specialized cybersecurity professionals
- Strengthens cyber capabilities near existing 1,400-employee operations hub in Chester
- Targets completion by Q4 2026, providing a clear regulatory and integration timeline
Negative
- None.
News Explained
The release discloses no purchase price, funding method, or ownership or dilution terms, so it establishes a planned, approval-dependent acquisition but not its economic effect on Bank of America’s existing holders.
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Headquartered in
Bank of America already has a significant presence in the North of
"We have long admired the exceptional ability of the MDSec team and are delighted that Bank of America and its clients will now further benefit from their work," said Kris Fador, Chief Information Security Officer, Bank of America. "We look forward to welcoming the MDSec team to Bank of America as we continue to enhance our leading cybersecurity capabilities in the
"We're immensely proud of what we've built at MDSec and, above all, of the team that made it possible," said Dominic Chell, Co-Founder, MDSec. "From the outset, our ambition has been to build world-class security capabilities and to push the industry forward. Joining one of the world's leading financial institutions, one that reflects our culture of innovation and technical excellence, gives us an incredible opportunity to take that ambition to the next level."
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in
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Reporters may contact
Matt Card, Bank of America
Phone: 1.202.579.6879
matthew.card@bofa.com
Catherine Page, Bank of America
Phone: 1.704.519.7314
catherine.page@bofa.com
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SOURCE Bank of America Corporation