This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

KEYW To Acquire Everest Technology Solutions

HANOVER, Md., Dec. 2, 2010 (GLOBE NEWSWIRE) -- KEYW Corporation (Nasdaq:KEYW) is pleased to announce that it has entered into a purchase agreement to acquire Everest Technology Solutions, Inc. (, a highly regarded, privately-held provider of cyber superiority solutions to the U.S. Intelligence Community (IC). The transaction is expected to close in December 2010, subject to customary closing conditions. 

Everest was founded in 1998 and is headquartered in Fairfax, VA. They offer a broad range of cyber superiority solutions and support including geospatial intelligence systems, cybersecurity, cloud computing and mission support. Everest has generated $15.1 million in revenue in the first nine months of 2010 (unaudited), and is projected to deliver 2011 revenue in the range of $25-28 million. The company is expected to deliver profitability in line with our previous acquisitions. They have approximately 110 employees, of whom approximately 105 have security clearances, at the level of TS/SCI. 

"Everest Technology Solutions is another important strategic acquisition for KEYW that adds both breadth and depth to our customers and capabilities," according to Leonard Moodispaw, CEO and President of KEYW Corporation. "Everest is KEYW's ninth acquisition since we began operations in August 2008, and our fourth acquisition this year. When completed, the acquisition will bring KEYW to over 700 highly skilled employees, with over 80% cleared at the highest level, TS/SCI. With each acquisition, KEYW is expanding its cyber superiority platform for providing agile solutions to the intelligence and defense community."

Under the terms of the agreement, KEYW will purchase all of the outstanding capital stock of Everest for $28.0 million in cash and $2.0 million in shares of KEYW Common Stock (exclusive of accounting and attorney fees and customary closing costs and adjustments). The number of shares of KEYW stock issued will be based on the average closing price of KEYW common stock for the ten trading days immediately preceding closing. KEYW expects that the acquisition will be accretive, subject to a final purchase price accounting analysis. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs