Kratos Defense & Security Solutions (NASDAQ: KTOS) has purchased SecureInfo Corp., a cybersecurity provider for defense and intelligence customers, for $17.5 million cash, the company announced today.
SecureInfo is noted for developing “SecureInfo RMS, ” a proprietary commercial off the shelf software product that simplifies security authorization.
Kratos said it expects SecureInfo to generate approximately $2.5 million in calendar year 2011 earnings before interest, tax, depreciation and amortization.
Kratos said it will pay an additional $2 million as part of the deal if certain future financial objectives are achieved after SecureInfo is integrated.
“The addition of SecureInfo further boosts our cybersecurity business which exceeds $100 million in annual revenue across our products and product-related service activities, ” stated Phil Carrai, president of Kratos’ technology and training solutions. “Our synergies could not fit better with SecureInfo as it enhances both the technology and training sides of our business.”
