(Bloomberg) — U.K. defense giant BAE Systems Plc is exploring a sale of its NetReveal business, which provides technology to detect financial crime and fraud, according to people familiar with the matter.
The London-based company is working with Lazard Ltd. on the potential disposal, the people said, asking not to be identified because the information is private.
BAE acquired NetReveal as part of the 2008 purchase of Detica Group Plc, whose software supported U.K. Ministry of Defence counterterrorism operations and tax-fraud detection by the U.S. Internal Revenue Service.
Those activities eventually became part of BAE Systems Applied Intelligence. A sale of the NetReveal platform, which provides fraud detection, risk management and data analytics to banking, financial markets and insurance clients, would leave the Applied Intelligence operations more focused on homeland security.
No final decision has been made, and there’s no certainty the deliberations will lead to a transaction, the people said. Representatives for BAE and Lazard declined to comment.
BAE said in November that the Applied Intelligence division “continues to deliver a significantly improved performance this year with profitable growth driven by the ramp-up in government related business.”
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