A global nuclear energy company has bought Christiansburg computing firm FoxGuard Solutions.
Framatome, the purchaser, is a $3.3 billion French company that designs and supplies nuclear power plants. Its North American operations are based in Lynchburg.
It plans to make FoxGuard its “center of expertise for cybersecurity in North America,” a Framatome news release said.
FoxGuard, which employs 110 people in Christiansburg, will stay in Christiansburg and is likely to continue slowly adding employees, said Marty Muscatello, FoxGuard’s president of CEO.
In the deal, which closed Tuesday, Framatome bought the stock of FoxGuard’s owners for a sum that won’t be made public, Muscatello said. He and Chief Financial Officer Tim Lawson, who had been FoxGuard’s majority shareholders, will stay for one year, he said. Patrick Patterson, FoxGuard’s vice president and chief strategy officer, and Mike Trautman, its vice president and chief technology officer, who were minority shareholders, will stay, Muscatello said.
FoxGuard began as a subsidiary formed in 2010 within CCS Inc. of Christiansburg, which had been founded in 1981 and earlier went by the name Comprehensive Computer Solutions. It grew to prominence, doing business globally, in two parts: cybersecurity and industrial computing, both focused on the energy industry, though neither immersed in nuclear power. Framatome said both of FoxGuard’s strengths dovetail with the services it offers nuclear energy companies.
Another company also formed within CCS, compliance software firm Qualtrax, spun off several years ago and continues doing business in Blacksburg, Muscatello said.