KEYW acquisition spree continues with No. 4 this year
Cybersecurity firm scales heights with purchase of Everest Technology
- By David Hubler
- Dec 02, 2010
KEYW Corp. has entered into a purchase agreement to acquire Everest Technology Solutions Inc., a privately held provider of cyber superiority solutions to the U.S. intelligence community.
Under the terms of the agreement, KEYW will purchase all outstanding capital stock of Everest for $28 million in cash and $2 million in shares of KEYW common stock, according to a KEYW statement released today.
The Fairfax, Va., company provides a broad range of cyber solutions and support, including geospatial intelligence systems, cybersecurity, cloud computing and mission support.
Everest Technology Solutions has generated $15.1 million in revenue in the first nine months of 2010 and is projected to deliver 2011 revenue in the range of $25 million to $28 million, KEYW officials said.
The company has approximately 110 employees, nearly all of whom have security clearances at the level of Top Secret/Sensitive Compartmented Information.
“Everest is KEYW’s ninth acquisition since we began operations in August 2008, and our fourth acquisition this year,” said Leonard Moodispaw, CEO and president of KEYW, in the statement.
“When completed, the acquisition will bring KEYW to over 700 highly skilled employees, with over 80 percent cleared at the highest level, TS/SCI,” he said.
The transaction is expected to close in December, subject to customary closing conditions.
KEYW, of Hanover, Md., provides agile cybersecurity solutions, primarily for U.S. government, intelligence and defense customers.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.