HANOVER, Md., April 1, 2014 (GLOBE NEWSWIRE) -- The KEYW Holding Corporation (Nasdaq:KEYW) announced today that its subsidiary, The KEYW Corporation, signed a lease for an additional 90,000 square feet of space in a new building close to its Headquarters on Milestone Parkway, Hanover, Maryland. The building will be designed to support KEYW's Advanced Cyber Research and Training Center. KEYW has an option for the remaining 30,000 square feet in the building to allow for rapid expansion of its cyber capability.
KEYW President and CEO Len Moodispaw stated, "KEYW has always been on the leading edge of cybersecurity and this investment to expand our infrastructure comes as a result of our recognition that the U.S. Government needs the cyber expertise we provide."
In his remarks delivered at the retirement ceremony of the outgoing Director of the NSA, Defense Secretary Chuck Hagel stated that the Department of Defense is expanding its modern cyber force in an effort to enhance the United States' "ability to deter aggression in cyber space, deny adversaries their objects, and defend the nation from cyber attacks that threaten our national security" and that "[i]n 2016, that force should number over 6,000 professionals" working together to "defend the United States against major cyber attacks".
The primary mission of the new KEYW Advanced Cyber Research and Training Center will be to develop tools and analytics to help protect and defend U.S interests, as well as to create a state-of-the-art training center designed to support the increased throughput of students required to bring the cyber warfare forces up to full strength.
Greg Dixon, one of the founding members of KEYW has been promoted to Sector Vice President and will provide the leadership for the Advanced Cyber Research and Training Center. Greg has led the organic growth of KEYW's Government cyber business over the past five years.
This lease follows the expansion of KEYW's Airborne Sensors and Flight Operations Center in North Andover, Massachusetts by 10,000 square feet to support new sensor technologies and flight service offerings. KEYW is also planning to expand into an additional 15,000 square feet of space in its Severn Maryland facility to accommodate growth in both sensor and micro-electronic development.
About KEYW
KEYW provides agile cyber superiority, cybersecurity, and geospatial intelligence solutions for U.S. Government intelligence and defense customers and commercial enterprises. We create our solutions by combining our services and expertise with hardware, software, and proprietary technology to meet our customers' requirements. For more information contact KEYW Corporation, 7740 Milestone Parkway, Suite 400, Hanover, Maryland 21076; Phone 443-733-1600; Fax 443-733-1601; E-mail investors@keywcorp.com; or on the Web at www.keywcorp.com.
Forward-Looking Statements: Statements made in this press release that are not historical facts constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements about our future expectations, plans and prospects, and other statements containing the words "estimates," "believes," "anticipates," "plans," "expects," "will," "potential," "opportunities", and similar expressions. Our actual results, performance or achievements or industry results may differ materially from those expressed or implied in these forward-looking statements. These statements involve numerous risks and uncertainties, including but not limited to those risk factors set forth in our Annual Report on Form 10-K, dated and filed March 10, 2014 with the Securities and Exchange Commission (SEC) as required under the Securities Act of 1934, and other filings that we make with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements. KEYW is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.