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LONDON, UK / ACCESSWIRE / October 23, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Booz Allen Hamilton Holding Corp. (NYSE: BAH) ("Booz Allen"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=BAH. The Company announced on October 20, 2017, that it has entered into an agreement to acquire technology firm Morphick, Inc. The financial terms of the transaction were not disclosed. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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About Morphick, Inc.
Headquartered in Blue Ash, Cincinnati, Morphick combines detection, threat hunting, and incident response to form a platform that analyzes the motivation and actions of attackers in order to thwart their attacks; assists companies in mitigating the challenges of the shortage of skilled cyber professionals and limitations of traditional, static defenses; and, using its tailored threat intelligence, to understand the attacker's unique strategy and then constantly morph a company's defense posture.
Morphick employs approximately 40 analysts and professionals with experience protecting global enterprises from the most advanced cyber threat actors. Morphic was recognized by Gartner in its Market Guide for Managed Detection and Response Services. The Company's clients comprise of Fortune 500 companies, financial organizations, medical firms, and technology and manufacturing companies. In September 2016, the Company received a $10 million funding led by Orchard Holdings.
Benefits to Booz Allen
The acquisition will expand Booz Allen's managed security portfolio and strengthen the firm's capability to help clients counter advanced cyber threats. Morphick's technology is differentiated by an adaptive approach to threat detection that addresses the growing challenge of highly evolved cyber threats and determined attackers, so as to empower companies to protect themselves and respond more effectively.
Booz Allen believes that Morphick extends a key focus for the firm's consulting business, the detection and response capabilities, which can be provided as a 24/7 remotely delivered managed service. Further, Morphick complements Booz Allen's current managed threat intelligence service, Cyber4Sight. Booz Allen stated that initiallyMorphick will support the firm's commercial clients, and in the future, the capabilities will extend to support other client demands.
Horacio Rozanski, President and Chief Executive Officer (CEO) of Booz Allen, said:
"The acquisition bolsters Booz Allen's growth strategy in its US Commercial business, where the focus is on expanding clients' access to scalable, on-demand managed threat services. The addition of the Morphick team and technology further solidifies the firm's ability to solve increasingly advanced cyber challenges."
Bill Phelps, leader of Booz Allen's US Commercial business, stated:
"A pioneer in detect and respond managed services for enterprises, Morphick's technology and team expand Booz Allen's managed security portfolio and strengthen the firm's capability around detection and mitigation of the advanced cyber threat, thereby enabling our customers to amplify their threat defenses against attackers who are growing in sophistication and capabilities."
The transaction is expected to close in Q3 FY18 and is subject to customary closing conditions.
Last Close Stock Review
On Friday, October 20, 2017, the stock closed the trading session at $37.94, slightly rising 0.45% from its previous closing price of $37.77. A total volume of 522.82 thousand shares have exchanged hands. Booz Allen Hamilton's stock price surged 12.12% in the last three months, 6.10% in the past six months, and 25.26% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 5.18%. The stock is trading at a PE ratio of 21.73 and has a dividend yield of 1.79%. At Friday's closing price, the stock's net capitalization stands at $5.62 billion.
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