KEYW Corp has acquired SenSage, a U.S based provider of security information and event management systems backed by Japan-based conglomerate Mitsui.The data from SenSage’s software can be stored to generate reports for detecting fraud and analyzing performance trends. KEYW will pay up to $18m in cash and up to $16.5m in KEYW common stock to SenSage equity holders.
KEYW primarily provides cyber security and geospatial intelligence solutions for US Government intelligence and defense customers.
Of the deal Leonard Moodispaw, chief executive and president of KEYW stated “by joining forces KEYW and SenSage will offer a new level of cyber awareness to both commercial and government markets.”
The transaction is expected to close in October 2012, subject to SenSage equity holder approval.
Prior to this deal SenSage has raised over $30m in venture capital funding since 2004 from Sierra Ventures, Canaan Partners, FTV Capital and Mitsui Ventures. In 2010 SenSage rasied $3.5m. SenSage closed its 2008 equtiy round at $15m. SenSage was founded in 2000.
This is the second acquisition for KEYW Corp in under a week. KEYW recently announced it had bought software maker Poole & Associates for $126m.