KEYW To Acquire Sensage, Beef Up SIEM Capabilities

"We've been working with Sensage on Project G from the early stages," said Leonard Moodispaw, CEO and President of KEYW Corporation, in an analyst call announcing the move. "They have a disruptive technology that we have found to be head and shoulders above anybody else out there, including larger and better-known companies. The acquisition of Sensage accelerates our pace and ability to respond to customer demands.

"We acquired them for their disruptive technology, their commercial experience, which includes a strong customer base and good leadership," Moodispaw added.

[Related: Report: Worldwide IT Security Spend On The Rise ]

Sensage reports more than 450 enterprise and government customers worldwide. The company's technology provides optimized high-volume event collection, monitoring, analytics and reporting for large amounts of log data over indefinite periods of time.

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"Increasingly, people who are more proactive are using events to understand what's happening in their networks and their applications so that they can take a more informed posture in defending those networks and applications and systems," said Joe Gottlieb, CEO of Sensage during the same conference call. "We can accelerate our own disruption of the markets and become a more intimate component of the Project G initiative."

Under the agreement, KEYW will pay up to $18.0 million in cash and up to $16.5 million in KEYW common stock to the Sensage equity holders. Additional consideration is contingent upon Sensage meeting certain revenue targets for the second half of 2012. KEYW expects the acquisition to be slightly accretive to KEYW's fourth-quarter 2012 financial results, subject to final purchase price accounting.