KEYW announces intent to sell its systems engineering and technical assistance business to Quantech Services, Inc.
The KEYW Corporation, a wholly-owned subsidiary of the Hanover, MD-based KEYW Holding Corporation, announced on February 24 that it has signed a definitive agreement to sell its systems engineering and technical assistance (SETA) business to Quantech Services, Inc. for $12 million in cash. The transaction is expected to close within two weeks. Bluestone Capital Partners acted as the exclusive agent for KEYW.
“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,” commented Bill Weber, CEO and President of KEYW. “This action de-conflicts KEYW at two key government agencies and will allow us to focus 100% on technology development opportunities across the Intelligence Community. In Quantech Services, we found a partner with a culture that values its employees in ways similar to KEYW and will provide a supportive environment that significantly enhances the growth opportunity of the SETA business outside of KEYW.”