BAE System’s informal offer to buy the UK’s most sought after software company Detica, is likely to hot up the bidding race. The news resulted in soaring of Detica’s shares by 22p to 303p, raising its market capitalisation to £351m.

BAE, the biggest manufacturer of defence in Europe is more interested in Detica due to its reputation as a leading independent company which provides IT services in the UK government security.
Detica did not disclose the name of the bidder.

The squeeze in military expenditures has forced the big defence companies to target homeland security and adjacent areas for growth of the business. Detica’s inclusion in the Trusted Borders consortium earlier this year, enhanced its reputation in the industry. The consortium is led by US defence group Raytheon Systems which has been awarded a contract for the UK government’s next phase of e-borders programme.

Detica was entrusted to build analytic and intelligence systems that will provide pre-screening tools to British security forces to screen immigrants.   The list of potential counter bidders for Detica includes L-3 Communications, America; European defence and aerospace group’s EADS, and Italy’s Finmeccanica.

According IS Research consultant, Ian Space, Detica’s strategic importance and experience from security and defence contracts make its position so strong that bidders would go to any extent to clinch a takeover deal.

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