KEYW Corp. [KEYW] yesterday said it completed the acquisition of Everest Technology Solutions that was announced earlier this month.
“Everest brings added depth of capabilities and experience with our largest Intelligence Community (IC) customer, as well as expanded breadth of contracts and experience with other members of the IC,” KEYW said in a statement.
KEYW has now completed nine acquisitions since the founding of the company in August 2008.
Everest joins KEYW’s strategic platform for agile cyber superiority solutions. With the addition of the Everest team, KEYW now has more than 700 employees with about 600 holding the highest clearance level, TS/SCI.
Under the previously disclosed terms of the purchase agreement, KEYW has purchased all of the outstanding capital stock of Everest for $28 million in cash, exclusive of accounting and attorney fees and customary closing costs and adjustments, and 149,054 shares of KEYW Common Stock.
The number of shares of KEYW stock issued was calculated by dividing $2 million by the average closing price of KEYW common stock for the 10 trading days immediately preceding closing, the company said.
KEYW expects that the acquisition will be accretive, subject to a final purchase price accounting analysis.
Bluestone Capital Partners provided Everest with merger and acquisition advice and support and was instrumental in completing this transaction quickly and efficiently, KEYW said.