Maintaining its aggressive pace of acquisitions, KEYW Corp. [KEYW] yesterday said it has agreed to acquire Everest Technology Solutions, Inc., a provider of cyber security and other information technology (IT) services to the intelligence community.
KEYW said it would pay $28 million in cash and $2 million in stock for Everest, which is based in Northern Virginia. Everest has $15.1 million in sales through the first nine- months of this year and expects to generate between $25 million and $28 million in sales next year.
Everest has core capabilities in cyber security, geo-spatial intelligence, cloud computing, and mission support.
“Everest Technology Solutions is another important strategic acquisition for KEYW that adds both breadth and depth to our customers and capabilities,” Leonard Moodispaw, KEYW’s president and CEO, said in a statement.
KEYW was founded in 2008 to serve the United States defense and intelligence communities and has expertise in hardware and software development, system integration, test and evaluation, field support, computer and network operations, information security and specialized training. The Everest deal, which is expected to close this month, would be KEYW’s ninth acquisition and fourth this year.
Through the first nine months of this year KEYW has nearly $78 million in sales and net income of $9.7 million. The Maryland-based company went public on Oct. 1.
Everest has 110 employees, with 105 having top secret security clearances.