JKA Technologies provides network engineering, information assurance, and systems and software engineering to the US intelligence community.
The company generated $12.9 million in revenue in 2010 and is projected to deliver 2011 revenue in the range of $13 million to $14 million. It has 65 employees, of whom approximately 60 have security clearances, at the highest level.
Under the terms of the agreement, KEYW purchased all of the outstanding capital stock of JKA for $10.5 million in cash and $2.5 million in shares of KEYW common stock. The purchase price is subject to post-closing adjustment based upon JKA's working capital as of the closing date of March 31.
The number of shares of KEYW stock issued was based on the average closing price of KEYW common stock for the ten trading days immediately preceding closing.
This marks the tenth acqusition by KEYW since it began operation in August 2008. The Hanover, Md.-based company provides cybersecurity products and services to the US government, primiarily the intelligence and defense communities.This acquisition brings KEYW to over 780 highly skilled employees, with over 80% cleared at the highest level.