KBR Acquires Government Services Company Wyle
KBR, Inc. announced the completion of its acquisition of Wyle, Inc. for $570 million. The transaction expands KBR's offerings to U.S. government clients.
HOUSTON, Texas – July 5, 2016 – KBR, Inc. announced today it has completed the acquisition of Wyle, Inc. for $570 million. The purchase price is subject to customary adjustments for net working capital, net cash, and indebtedness, and includes approximately $30 million in acquired tax benefits.
Wyle will now operate under the combined brand "KBRwyle." This branding preserves the Wyle name and logo while acknowledging KBR's ownership and honoring the legacies of both companies. The combined entity aims to ensure continuity for Wyle's existing clients and communicate to the market that KBR's government services now encompass a full spectrum of government mission requirements.
These requirements include research and development, testing, engineering, logistics, deployed operations, and life-cycle sustainment. KBR President and CEO Stuart Bradie stated that the acquisition aligns with the company's strategy to expand its global government services offerings, shifting focus towards high-growth, specialized, technology- and science-driven revenue streams.
"Today we are proud to welcome Wyle to KBR," said Stuart Bradie. "KBRwyle fits perfectly with our strategy to expand KBR's global Government Services offerings, moving the business towards the high growth, more specialized, technology- and science-driven sources of long-term annuity type revenues with greater differentiation."
The acquisition strengthens KBR's position as a provider to the U.S. government, adding capabilities particularly in testing, research, and technical support critical for government missions.