KEYW signs definitive agreement to sell Hexis HawkEye G product line business
The KEYW Holding Corporation of Hanover, MD announced on May 18 that it has signed a definitive agreement to sell the HawkEye G product line business of Hexis Cyber Solutions. This transaction is the second Hexis product line business to be sold and the combined deal value of the two transactions is approximately $20 million in cash and purchaser stock.
As disclosed on KEYW’s first quarter earnings call on May 10, 2016, Hexis’ HawkEye AP product line business was sold to Ignite Analytics, Inc., an affiliate of Ignite Technologies, Inc., in a transaction that closed on May 2, 2016. On May 17, 2016, KEYW signed a definitive agreement to sell the Hexis HawkEye G product line business in a transaction to a private-equity backed, established strategic buyer in the security technology industry. Specific terms of the individual transactions were not disclosed, and the HawkEye G transaction is subject to customary closing conditions.
“As we disclosed on our recent earnings calls and during our April 7 Analyst and Investor Day, KEYW initiated a broad process to explore strategic alternatives for Hexis Cyber Solutions in late 2015. Today, I am pleased to report that we have signed a definitive agreement to sell HawkEye G. We expect to announce the closing of the HawkEye G transaction in the coming weeks,” said Bill Weber, KEYW’s president and CEO.
“With the anticipated completion of the Hexis transactions, KEYW is better able to leverage its position as an end-to-end, pure-play intelligence solutions provider to federal government customers and nations friendly to the U.S.,” continued Weber. “We look forward to generating organic growth as well as healthy margins in 2016 and beyond as we begin to capture large prime solutions contracts and continue to grow sales of our innovative products and technologies.”