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Government contractor KEYW to buy software maker for $126 million
(Reuters) - Cyber-security services provider KEYW Holding Corp (KEYW.O) said it will buy privately held Poole & Associates Inc for $126 million in cash and stock to get more contracts from the U.S. government.
KEYW will pay $116 million in cash and $10 million in its stock for the software provider to U.S. intelligence agencies.
Maryland-based Poole recently got a five-year $150 million contract to provide systems engineering and program management support to an intelligence agency.
KEYW, which serves the U.S. Department of Defense and the National Geospatial Intelligence Agency, expects the deal to add revenue of about $90 million in 2013.
The company, which expects the deal to close in 60 days, said the deal will add to earnings immediately after closing.
The Hanover, Maryland-based KEYW, which stands for Key West in Florida, competes against SAIC Inc (SAI.N), Raytheon (RTN.N), L-3 Communication Holdings Inc (LLL.N), Mantech International Corp (MANT.O) and Booz Allen Hamilton Holding Corp (BAH.N).
KEYW's shares were up 1 percent in extended trade at $12.50. They closed at $12.37 on the Nasdaq on Monday.
(Reporting By Aurindom Mukherjee in Bangalore; Editing by Don Sebastian)
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