{"id":64957,"date":"2018-06-13T20:52:55","date_gmt":"2018-06-13T12:52:55","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/kratos-divest-public-safety-security-division-for-70-7m\/"},"modified":"2018-06-13T20:52:55","modified_gmt":"2018-06-13T12:52:55","slug":"kratos-divest-public-safety-security-division-for-70-7m","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/kratos-divest-public-safety-security-division-for-70-7m\/","title":{"rendered":"Kratos Divest Public Safety, Security Division for $70.7M"},"content":{"rendered":"<\/p>\n<p><strong>Kratos Defense and Security Solutions<\/strong> has completed the sale of its Public Safety and Security division (PSS) to <strong>Securitas Electronic Security<\/strong>. At the transaction close, Kratos received $70.7 million in cash, subject to a working cash adjustment, and Kratos expects to ultimately receive approximately $70 million of net cash proceeds from the transaction, net of related transaction expenses.<\/p>\n<p>With the closing of this transaction, Kratos\u2019 pro forma cash balance at April 1 would have been $198.5 million, with pro forma net leverage of approximately 2.0X.<\/p>\n<p>\u201cThis divestiture will allow us greater focus and financial flexibility for our high growth core businesses, including unmanned aerial drones, satellite communications, missile defense, training systems and microwave electronics,\u201d said Eric DeMarco, Kratos\u2019 president and CEO.<\/p>\n<p><strong>Canaccord Genuity<\/strong> served as exclusive financial advisor to Kratos in connection with the transaction and <strong>Paul Hastings<\/strong> served as legal counsel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kratos Defense and Security Solutions has completed the sale of its Public Safety and Security division (PSS) to Securitas Electronic Security. At the transaction close, Kratos received $70.7 million in cash, subject to a working cash adjustment, and Kratos expects to ultimately receive approximately $70 million of net cash proceeds from the transaction, net of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":61466,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-64957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/64957"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=64957"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/64957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/61466"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=64957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=64957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=64957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}