KBR (NYSE: KBR) has agreed to acquire Greenbelt, Maryland-based government technology services contractor Stinger Ghaffarian Technologies for an undisclosed sum in a move to expand its high-tech professional service offerings for NASA and other federal agencies.
“SGT is a great company with very talented people and is the right fit for us as we continue to grow our government services portfolio and position ourselves to expand into new areas in line with our strategy,” Stuart Bradie, KBR president and CEO, said in a statement published Friday.
Houston, Texas-based KBR will run SGT as a business unit as part of its global government services business, KBRwyle, and expects to close the transaction by the end of the first quarter of 2018, SGT said Friday.
KBR expects the transaction to broaden KBRwwyle™s presence in human space exploration sector and bring new opportunities in commercial space and national security markets.
Kam Ghaffarian, SGT president and CEO, said the combination with KBRwyle would help the company offer more opportunities to employees and provide an expanded portfolio of service offerings to clients.
Ghaffarian and SGT™s management team will remain unchanged upon integration with KBRwyle.
KBR™s board of directors has approved the transaction and the company expects the deal to be accretive to earnings per share in the first full year following completion of the acquisition.
SGT, which was founded by Harold Stinger and Ghaffarian in December 1994, has approximately 2,500 employees and offers mission operations, engineering, scientific and information technology services to federal government agencies in support of national security, civilian and space programs.
