KBR acquires Wyle, Inc.

By Sumit Modi

KBR has announced the completion of its acquisition of Wyle, Inc. for $570 million.

Wyle will now operate under the name KBRwyle. indicating KBR's ownership while honoring the legacy of both companies, and highlighting the strength of the combination. 

Stuart Bradie, President and CEO of KBR, Inc, said: "Today we are proud to welcome Wyle to KBR. 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 and higher margins. 

"As our Government Services markets expand we are seeing increasing synergy with our hydrocarbons business, with people and services moving between divisions, further enhancing the value proposition of the acquisition.

"KBR and Wyle share a proud legacy of innovation and performance for which all of our now combined 25,800 employees can be proud. It is with great pleasure that we unite these two companies to create the equivalent of a global $2 billion Government Services organization with full service capabilities drawing on the best in class capabilities of both organizations.”

The deal is subject to customary adjustments including for net working capital, net cash, and indebtedness of Wyle.

 

Follow @BizReviewUSA and @NellWalkerMG

Read the June issue of Business Review USA & Canada here

Share

Featured Articles

Microsoft, McDonald’s latest firms to run civil rights audit

Microsoft and McDonald’s join Amazon, Citi, JPMorgan and others in conducting civil rights audits, as investor pressure to achieve racial equity mounts

Deep dive: Investment in carbon capture rises as CO2 spikes

Investment in carbon removal solutions and startups is heating up as fast as the planet, with Temasek and CEMEX Ventures the latest VCs to launch funds

Dialight envisions a safe industrial world with LED lights

Reliance on inefficient lighting technologies are not only harmful to the environment, but also increase injury risk and cost

Top 10: Tech, cyber, 5G, cloud speakers at TECH LIVE LONDON

Technology & AI

Eight big announcements made at Davos 2022, from ESG to tech

Sustainability

Hear Vodafone Business cyber chief Kawalec at Cyber LIVE

Leadership & Strategy