KeyW clears FTC hurdle early for $235M Sotera deal
By
Ross Wilkers
The Federal Trade Commission has cleared KeyW Corp.’s pending $235 million acquisition of Sotera Defense Solutions through an early termination of the FTC’s regulatory review waiting period.
The Federal Trade Commission has cleared KeyW Corp.’s pending $235 million acquisition of Sotera Defense Solutions through an early termination of the FTC’s regulatory review waiting period.
The Hart-Scott-Rodino Antitrust Improvements Act of 1976 mandates a 30-day waiting period to review whether a large transaction violates antitrust law.
Deals can proceed upon the waiting period’s expiration or if the government ends the waiting period early.
KeyW expects to close the transaction during the second quarter of this year.
Post-close, KeyW projects $535 million in annual revenue with $225 million of that from Sotera and adds new work with the intelligence community, departments of Defense and Homeland Security, and federal law enforcement agencies.
Shares in KeyW have traded 5.7 percent higher since the deal was first announced March 8.