HANOVER, Md., Oct. 16, 2012 (GLOBE NEWSWIRE) -- The KEYW Holding Corporation (Nasdaq:KEYW) is pleased to announce the completion of the acquisition of Sensage, Inc. (Sensage) that was announced in our press release on September 13, 2012. Sensage will become an important part of a new generation of cyber awareness products and services that KEYW is preparing to launch. Joe Gottlieb, CEO of Sensage, will become a Sector Vice President of KEYW, leading a newly formed operating unit focused on cybersecurity products and services for commercial and government customers. This Sector will also include KEYW's emerging cyber awareness and response platform, Project G.
Under the previously disclosed terms of the agreement, KEYW purchased all of the outstanding capital stock of Sensage for $15.0 million in cash and 713,151 shares of KEYW common stock. The number of shares of KEYW stock was calculated by dividing $9.0 million by the average closing price of KEYW common stock as reported on the NASDAQ Global Market over the last ten trading days ending three calendar days prior to closing. An additional $3.0 million in cash and 594,295 shares of KEYW common stock could be paid to Sensage shareholders contingent upon Sensage achieving certain revenue targets in the second half of 2012.
About KEYWKEYW provides agile cyber superiority, cybersecurity, and geospatial intelligence solutions primarily for U.S. Government intelligence and defense customers. We create our solutions by combining our services and expertise with hardware, software, and proprietary technology to meet our customers' requirements. For more information contact KEYW Corporation, 7740 Milestone Parkway, Suite 400, Hanover, Maryland 21076; Phone 443-733-1600; Fax 443-733-1601; E-mail email@example.com; or on the Web at www.keywcorp.com . About Sensage Sensage helps organizations collect, store, analyze and interpret complex information to identify new threats, improve cyber security defenses, and achieve industry and regulatory compliance. Sensage serves its customers' most advanced Security Information and Event Management (SIEM), log management, Call Detail Record (CDR) retention and retrieval and Continuous Controls Monitoring (CCM) use cases. Hundreds of customers worldwide leverage patented Security Intelligence solutions from Sensage to effectively identify, understand and counteract insider threats, advanced persistent threats, cyber threats, fraud and compliance violations.