KEYW Corp. [KEYW] on Wednesday said it has agreed to sell the remaining product line of its commercial cyber security business, Hexis Cyber Solutions, to an undisclosed private equity firm.
Terms of the deal were not disclosed.
KEYW said its Hexis HawkEye G product line business is being acquired by a private equity backed, established strategic buyer in the security technology industry. The sale is expected to close in the coming weeks, the company said.
Late in 2015 KEYW began a strategic review of its commercial cyber solutions business, which it stood up in the fall of 2013. Earlier this month, KEYW disclosed that had sold the Hexis HawkEye AP product line business to Ignite Technologies’ Ignite Analytics business. That deal closed on May 2.
KEYW said the combined deal value of the HawkEye AP and HawkEye G sales is about $20 million in cash and purchaser stock.
HawkEye AP is an open and scalable data analytics platform for security information and event management and event data warehousing. Ignite, which is part of the ESW Capital family of companies, said is rebranding the product as SenSage AP. KEYW acquired SenSage in 2012.
Ignite, which is based in Texas, said the HawkEye AP acquisition “expands the scope and depth of Ignite’s solutions by enabling enterprise to use the information their systems are already generating to meet business-critical goals, such as fraud detection, insider threat behavior analysis, and regulatory compliance. Ignite lists a range of commercial customers on its website.
Bill Weber, KEYW’s president and CEO, said in a statement that “with the anticipated completions of the Hexis transactions, KEYW is better able to leverage its position as an end-to-end, pure play intelligence solutions provider to federal government customers and nation’s friendly to the U.S.”
Earlier this year KEYW sold its systems engineering and technical assistance business to Quantech Services for $12 million. That business was divested to de-conflict the company’s work at two key government agencies, allowing KEYW to focus on its technology development opportunities in the intelligence community.