Jacobs [JEC] on Tuesday said has completed its $815 million acquisition of KeyW, significantly expanding its work with the intelligence community.
KeyW will be aligned within Jacobs’ Aerospace, Technology and Nuclear business. When it first announced the deal in April, Jacobs said the acquisition would position it in the growing intelligence, surveillance and reconnaissance market, and open it to the space-based remote sensing market.
“This combination unites complementary capabilities, cultures and client relationships, as well as proprietary technology and products, to accelerate Jacobs’ profitable growth strategy,” Steve Demetriou, chairman and CEO of Jacobs, said in a statement. “The addition of KeyW within our ATN business advances our strategy to drive growth in higher value markets, including a multi-billion-dollar space opportunity delivering next generation intelligence and analytics solutions.”
Jacobs acquired KeyW for $11.25 per share. The deal terms excluded tax assets and included $272 million KeyW net debt.
Jacobs is a professional services firm serving the commercial, industrial, government and infrastructure sectors. The company said that the acquisition will increase its number of cleared personnel to the top secret or higher level by around 50 percent.