Bank of America to Acquire UK Cybersecurity Firm MDSec

Bank of America announced it will acquire UK information security consultancy MDSec, with the transaction expected to close in the fourth quarter of 2026 subject to regulatory approval. The bank did not disclose the purchase price or other financial terms.

MDSec is headquartered in Macclesfield, England, and employs about 65 cybersecurity professionals. The firm offers technical information security consulting, focusing on assessing and improving the security of systems and applications.

The acquisition will expand Charlotte, North Carolina–based Bank of America’s operations in northern England. The bank already has more than 1,400 employees in nearby Chester, where it operates a cyber threat operations center, and said the purchase will add technical security expertise to its local team.

Bank of America chief information security officer Kris Fador praised the MDSec team’s skills, saying, “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.”

MDSec co-founder Dominic Chell said joining Bank of America would support the company’s plans to expand security capabilities and technical development. He added, “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.”

The transaction remains subject to regulatory approval. Bank of America provided no timetable beyond the expected fourth-quarter 2026 close and did not release additional financial details.