By Ian Walker

Telefonica SA said Thursday that it is buying Cancom Ltd. for an enterprise value of 340 million pounds ($472.7 million) as part of its consolidation strategy in the U.K.

The Spanish telecommunication company said that it expects to close the deal, which is being made through its subsidiary Telefonica Cybersecurity & Cloud Tech, SL, within the coming days.

Cancom is a British company that provides end-to-end advanced cloud and security services in the U.K. and Ireland.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

07-29-21 0122ET