KEYW to Sell Systems Engineering & Technical Assistance Unit to Quantech Services

KEYW Corp. (Nasdaq: KEYW) has agreed on a $12 million cash deal for the sale of its systems engineering and technical assistance business to Quantech Services.

“As part of an ongoing strategic review of our business, we came to the conclusion that the growth potential of both KEYW’s core business and the SETA business can be maximized if the two were separated, “ Bill Weber, CEO and president of KEYW, said in a release issued Wednesday.

He added that the acquisition will help KEYW to focus on technology development opportunities across the intelligence community.

Bluestone Capital Partners served as agent for KEYW in the deal, which is scheduled to wrap up within 14 days.

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