KBR to Acquire VIMA Group, a Leading UK Digital Transformation Company
KBR has signed a definitive agreement to acquire the UK-based VIMA Group for up to GBP £75 million, including earn-out opportunities. VIMA Group specializes in digital transformation solutions for defense and public sector clients, securing its position as a top supplier to the UK's Ministry of Defence. KBR aims to enhance its advisory and consulting capabilities while investing in future growth. This acquisition aligns with KBR's strategy to strengthen its position in international markets and deliver long-term value.
- KBR's acquisition of VIMA Group for up to GBP £75 million enhances its advisory and consulting capabilities.
- Strengthens KBR's strategic relationships within the UK Ministry of Defence, potentially leading to future contracts.
- Aligns with KBR’s growth strategy in international markets, supporting long-term value creation.
- Potential risks associated with the integration of VIMA Group into KBR's existing operations.
- Financial strain from the acquisition cost may impact short-term liquidity.
HOUSTON, June 15, 2022 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has entered into a definitive agreement to acquire U.K.-based VIMA Group, a leading provider of digital transformation solutions to defense and other public sector clients, for up to GBP
VIMA Group delivers solutions across a number of large-scale, high priority digital transformation programs to support its clients in ensuring availability of effective digital and information technology as guided by the U.K.'s Digital Strategy for Defence. The company is a trusted advisor and a top five supplier to Defence Digital and Navy Digital – both organizations within the UK Ministry of Defence with a number of highly strategic, fast-growing programs.
"This acquisition builds on our growing platform of high end, technically differentiated advisory, consulting, and transformation solutions in international markets," said Stuart Bradie, KBR President and Chief Executive Officer. "VIMA Group's capabilities and trusted relationships in increasingly important areas accelerates our strategy to invest in the skills of the future that will deliver growth and value creation for years to come. We are delighted to welcome VIMA Group into the KBR family."
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 people performing diverse, complex and mission critical roles in 34 countries.
KBR is proud to work with its customers across the globe to provide technology, value-added services, and long- term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
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The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic and the company's ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company's ability to manage its liquidity; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; changes in capital spending by the company's customers; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; the possibility of cyber and malware attacks; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.
The company's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that the company has identified that may affect its business, results of operations and financial condition. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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