KBR, Inc. [KBR] on Wednesday said it has completed its $355 million acquisition of Stinger Ghaffarian Technologies, Inc. (SGT) in a deal that expands its professional services capabilities for the federal government, in particular with NASA.
“As a combined team we have substantial opportunities for new growth and we are well positioned to capitalize on revenue synergies in a market with strong fundamentals,” Stuart Bradie, KBR’s president and CEO, said in a statement. “This is a very deliberate move to enact our long-term strategy within the government services market, NASA and the broader space industry. We are building a long lasting space franchise with a major presence in the three key segments of today’s industry--civil, military and commercial.”
SGT will be integrated into KBRwyle, which is part of KBR’s government services segment. The segment had about $2.2 billion in sales in 2017.
SGT has annual sales of about $500 million. KBR said when it first announced the deal in February that it expects revenue synergies of $100 million by 2021.
Maryland-based SGT provides technology solutions, engineering services, mission operations, scientific and information technology software solutions to its customers. In addition to NASA, key customers include the National Oceanic and Atmospheric Administration, the U.S. Geological Survey, and the Department of Transportation. KBR hopes the acquisition bolsters its presence within the Defense Department.