HANOVER, Md., Sept. 24, 2015 (GLOBE NEWSWIRE) -- The KEYW Corporation, a wholly owned subsidiary of The KEYW Holding Corporation (NASDAQ:KEYW), announced today that it has sold its first KeyRadar product as part of $11 million in new, competitively-selected awards.
KeyRadar is a multi-mission, multi-mode system built on KEYW's next-generation, software-defined radio/radar architecture. KeyRadar combines multiple bands with sophisticated processing and target detection/recognition software to find concealed targets in the most challenging operational environments. Furthermore, our software-defined, modular open system architecture enables users to rapidly field new capabilities to operational systems, significantly lowering total life cycle costs.
This product sale to the Air Force Life Cycle Management Center is part of a $6.7 million program to integrate KeyRadar into an MQ-9 unmanned aerial system pod and demonstrate its unique capabilities for Intelligence, Surveillance, and Reconnaissance (ISR) and targeting applications.
Separately, KEYW was also awarded a $4.4 million contract by the Air Force Research Laboratory (AFRL) to develop a next-generation multi-INT, plug-and-play pod that enables the Air Force to rapidly reconfigure sensor suites in the field. The Agile Manufacturing for ISR (AM-ISR) program will also develop novel manufacturing techniques to reduce the cost and time to field new sensor systems using aircraft pods.
Finally, KEYW is pleased to announce the successful completion of the first year of its four-year Contested Environment RF Exploitation Research (CERFER) program for AFRL. This year's activities culminated in a series of airborne flight tests, using our next-generation radar integrated into our KEYW-modified aircraft. In the CERFER program, KEYW is developing innovative software and hardware enhancements that will enable in-place upgrades to the KeyRadar products during their operational service.
Mark Willard, interim CEO, stated, "We are truly excited about the opportunities ahead for our new KeyRadar product line. These competitive awards demonstrate the agility and innovation of KEYW in both the radar and broader markets we serve."
Commercial pricing and delivery options for KeyRadar are available by request.
For more information about KEYW's radar capabilities, please contact firstname.lastname@example.org.
For more information about employment opportunities, please visit http://www.keywcorp.com/careers.html.
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 email@example.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 12, 2013 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.
Contact: Chris Donaghey 443-733-1600