KeyW Completes Sotera Integration, Reports Rise in FY 2017 Revenue

Bill Weber, president and CEO of KeyW (Nasdaq: KEYW), has said the company has completed integration efforts with regard to its purchase of Herndon, Virginia-based national security technology contractor Sotera Defense Solutions.

KeyW closed its $235 million cash acquisition of Sotera in April 2017 in an effort to expand its footprint in the intelligence community.

œWe entered 2018 with a more competitive cost structure in place, and the ability to pursue contracts that neither company could have competitively bid on its own before the acquisition, Weber said in a statement published Thursday.

KeyW recorded $548 million in contract awards for fiscal year 2017 and $78 million in contract bookings during the fourth quarter of FY 2017, including new work across cyber, autonomy and data science areas.

The Hanover, Maryland-based national security platforms provider submitted proposals for contracts worth approximately $1.4 billion as of Dec. 31, 2017.

The company realized $441.6 million in full-year revenue for 2017, up from $288 million in 2016.

KeyW posted an 84.1 percent rise in revenue during the fourth quarter of FY 2017 compared with the prior-year period and reported $4.5 million in Q4 operating income.

The company attributed the revenue growth to contracts acquired through the Sotera deal.

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