HTSI will be integrated into KBRwyle, a wholly owned subsidiary of KBR, 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.
The transaction price to KBR is USD266 million, after adjustments for approximately USD34 million of acquired tax benefits,including net working capital of HTSI.
5 times better than that of the previous model A032-ET and more than 2 times better then the model HTSI
Under the new six-year contract HTSI will continue to manage both the Landsat 5 and Landsat 7 satellite programs while adding new tasks such as on-orbit flight operations and technical services for the Landsat 5 and Landsat 7 satellites and ustaining engineering for each spacecraft, helping to keep the spacecraft operationally longer.
HTSI will also assist the USGS with the safe decommissioning of Landsat 5 by lowering it from its orbiting altitude of 705 kilometers and mitigating risk to nearby US and international Earth-observing satellites.
We are proud to add HTSI and its outstanding record of past performance to KBR's Government Services portfolio which further diversifies KBR's capabilities, and provides high-value, low-risk, more predictable and long-term earnings capabilities to provide balance to the more cyclical nature of the hydrocarbons business.
The addition of HTSI will position KBR at the forefront of the government services industry as a leader in high end technical engineering and mission support, cyber security, logistics and equipment maintenance creating a global $2.
HTSI is a wholly owned subsidiary of Honeywell Aerospace, with approximately 3,550 employees operating throughout 39 states and in 14 countries around the world.
As part of this process, we determined that HTSI did not align to our current portfolio and long-term strategic plans in Aerospace.