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.

“We 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.

You may also be interested in...

William Conley CTO Mercury Systems

Mercury Systems’ William Conley Joins NDIA Central Georgia Chapter Board

William Conley, chief technology officer of Mercury Systems (Nasdaq: MRCY), has been named to the board of directors for the National Defense Industrial Association's Central Georgia chapter. He will serve as a board member for a term of up to six years, Mercury Systems said Thursday.

Cloud IT

DHS Posts $3B Data Center, Cloud Solicitation

The Department of Homeland Security has issued a request for proposals for its indefinite-delivery/indefinite-quantity Data Center and Cloud Optimization contract worth potentially $3.35B over 10 years.