Booz Allen Hamilton Holding Corporation - BAH STOCK NEWS

The Medical Device Innovation Consortium (MDIC) has published its first benchmark report on cybersecurity maturity in the medical device sector, in collaboration with Booz Allen Hamilton (NYSE:BAH). The report serves as a resource for medical device manufacturers (MDMs) and healthcare organizations to enhance cybersecurity measures. Key findings indicate no correlation between annual revenue and cybersecurity maturity, with strengths in organizational structure and weaknesses in cybersecurity design control. MDIC plans to publish this report annually to track industry progress.

Booz Allen Hamilton (NYSE: BAH) has successfully completed its acquisition of EverWatch Corp., previously announced on March 16, 2022. This acquisition enhances Booz Allen's cybersecurity capabilities by adding EverWatch's workforce, expertise in software development, cyber analytics, and national security programs. Tom Pfeifer, President of National Security Sector at Booz Allen, emphasized the strategic fit and expected value this merger brings to clients navigating cyber threats. The integration aims to bolster U.S. national cyber capabilities.

Booz Allen Hamilton (NYSE: BAH) has launched HELworks, a division focused on developing high energy laser (HEL) weapon systems for modern warfare. This initiative embodies Booz Allen's investment in directed energy solutions over the past five years, enhancing military capabilities with products like HEL MEP, MCHEL, and LightEngine. Designed for rapid deployment and optimized for size, weight, and power, HELworks aims to address asymmetrical threats effectively. The company is set to conduct initial field tests of HEL MEP shortly.

Elevate Security and Booz Allen Hamilton (NYSE: BAH) announced a strategic partnership to enhance cybersecurity by integrating Booz Allen's consulting with Elevate's human cyber risk mitigation software. The collaboration aims to address the human factors in cybersecurity, leveraging Elevate's intelligence to provide rapid risk assessments and internal risk visibility. Highlighting that 82% of breaches involve human elements, the partnership will enhance Booz Allen's Dynamic Cyber Trust solution, combining risk scores with zero trust principles for improved security practices.

Booz Allen Hamilton Holding Corporation (NYSE: BAH) will host a conference call at 8 a.m. EDT on October 28, 2022, to discuss its financial results for Q2 of Fiscal 2023, ending September 30, 2022. A press release with these results will be issued prior to the call. Analysts and institutional investors can register online in advance, and the call will also be available for public listening via the company's website. A replay will be accessible post-event for 30 days. The company is a leader in consulting, employing nearly 29,300 individuals with reported revenue of $8.4 billion for the previous fiscal year.

Booz Allen Hamilton (NYSE: BAH) announced the retirement of CFO Lloyd W. Howell, Jr. effective December 31, 2022. Matthew A. Calderone, currently the Chief Strategy Officer, will succeed him on October 1, 2022. Howell, with a 34-year tenure, has played a key role in the company's growth and value creation. Calderone has extensive experience in corporate finance and strategy, having led over $1.4 billion in M&A transactions since 2014. This transition is expected to bolster Booz Allen's long-term strategy and shareholder value.

Booz Allen Hamilton Holding Corporation (NYSE: BAH) announced a successful amendment to its credit agreement on September 7, 2022. This includes raising $2,650 million under Senior Secured Credit Facilities, reducing overall interest costs by shifting Term Loan B (TLB) balances to Term Loan A (TLA), and extending maturities for a new five-year term. The amendment also permits operational and financial flexibility, with the TLA's interest rate set at SOFR + 1.25%. The Company borrowed an additional $425 million to prepay all outstanding TLB, with new maturity dates set for September 7, 2027.

Booz Allen Hamilton (NYSE: BAH) and CyberSaint have formed a strategic partnership aimed at enhancing cybersecurity program maturity and risk management for clients. This collaboration combines Booz Allen's cybersecurity consulting expertise with CyberSaint's advanced software, enabling organizations to assess their cybersecurity posture against industry frameworks like NIST CSF. The partnership allows businesses to quantify risks objectively, prioritize defenses, and optimize security resources, delivering significant return on security investment (ROSI) in a rapidly evolving threat landscape.

Oliver Wyman has completed the acquisition of Booz Allen Hamilton's strategy consulting business in MENA, significantly enhancing its expertise in sectors like financial services, energy, and sustainability. This strategic move, deemed one of the most significant in a decade, aims to address key client issues and opportunities. The integration will place Booz Allen's consulting practice within Oliver Wyman's UAE and KSA offices, expanding its global workforce to over 5,700 professionals across 70+ offices. Financial terms of the deal were not disclosed.