KBR Closes Acquisition of Honeywell Government Services Provider, HTSI
[Via Satellite 09-20-2016] KBR announced Sept. 19 it has completed the acquisition of Honeywell Technology Solutions, Inc. (HTSI), the government services division of Honeywell. Funded through KBR’s existing line of credit facility, the company expects the acquisition will be accretive to its earnings per share in 2017.
The acquisition of HTSI is part of KBR’s strategy of expanding its global government services offerings into higher end technical services that offer increased margins and a lower risk profile. KBR intends to integrate HTSI into KBRwyle, a company acquired this July, to create a total capability government services organization that spans the spectrum of the life-cycle of aerospace and defense programs from research and development, through test and evaluation, to operations, maintenance, and field logistics.