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  • Thursday, November 21, 2024

KeyW-Sotera Deal Gets FTC Green Light, Firms Target 2Q 2017 for Closure


The Federal Trade Commission has given its approval for KeyW‘s (Nasdaq: KEYW) proposed $235 million all-cash acquisition of Sotera Defense Solutions.

The FTC terminated the required 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the early termination notice brings the deal a step closer to completion, KeyW said Monday.

KeyW first announced the transaction in early March as the Hanover, Maryland-based contractor aims to further augment its portfolio of cybersecurity and geospatial technology products and service offerings for government customers that include the U.S. intelligence community.

Herndon, Virginia-based Sotera Defense Solutions offers a range of national security systems and services to the federal government.

Both companies expect to complete the transaction by the second quarter of 2017.

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