AEP Networks

AEP Networks was a cybersecurity company specializing in secure network communication solutions for government, enterprise, and service provider markets. The company was founded in Dublin, Ireland, based on technology developed at Dublin City University (DCU). It pursued a growth strategy that included several acquisitions, such as the security technology assets of Baltimore Technologies, a merger with US-based Netilla Networks in 2004, and the acquisition of V-One Corporation, a technology supplier to the US government, in 2005.

The company's business model focused on providing a comprehensive suite of security products and services delivered through systems integrators, managed service providers, and a distribution channel. Its client base was global, serving over 5,000 customers in more than 60 countries, including numerous blue-chip and government entities. By 2010, the company achieved revenues of $25 million and had become profitable. Its sales were geographically diversified, with 74% in the EMEA region, 14% in North America, and 12% in the Asia-Pacific region.

AEP Networks developed a range of hardware and software security solutions. Key offerings included hardware security modules (HSMs) for protecting and managing cryptographic keys, high-assurance networking equipment, and secure remote access products. One notable product was 'AEP Net Remote,' a hardware VPN client designed for UK government agencies to securely access classified information remotely. The company also offered a 'Security as a Service' solution called 'Cloud Protect,' which functioned as a secure virtual PC over the internet. Many of its products were accredited by CESG/GCHQ, the UK government's authority for secure electronic communications.

On September 29, 2011, AEP Networks was acquired by Ultra Electronics, a British defense and aerospace company, for an initial cash consideration of $57.5 million, with potential for an additional $17.5 million based on financial performance. At the time of the acquisition, AEP employed approximately 80 people, with development centers in the UK and the US, and sales and support offices in New Jersey, Australia, and Malaysia. The acquisition was a strategic move for Ultra Electronics to enhance its capabilities in the cybersecurity sector, integrating AEP's technologies as a bolt-on to its Tactical & Sonar Systems division.

Keywords: network security, cybersecurity solutions, hardware security modules, HSM, secure remote access, VPN client, government security, cryptography, data encryption, secure communications, CESG, GCHQ, information security, application access, network gateways, Cloud Protect, virtual private network, Netilla Networks, V-One Corporation, Ultra Electronics