HANOVER, Md. (AP) -- The KEYW Holding Corp., which provides online security to the federal government, said Tuesday that it completed its acquisition of Poole & Associates Inc. in a cash and stock deal worth about $126 million.
KEYW said it expects the acquisition to immediately boost its profits. With the addition of Poole, KEYW now has more than 1,000 employees and in excess of 800 holding at least a top secret security clearance.
The Annapolis Junction, Md.-based company was founded in 1999 and offers a variety of technical services including systems and software engineering, program management support, and technical training, KEYW said.
KEYW bought all of Poole's outstanding stock for $116 million in cash and 794,913 shares of its own stock. Based on Monday's closing stock price of $12.67, the stock portion of the deal was worth about $10 million.
The acquisition was funded with a combination of proceeds from the company's recent stock offering and debt.