FAIRFAX, Va.--(BUSINESS WIRE)--ManTech International Corporation (NASDAQ:MANT) (www.mantech.com), a leading provider of innovative technologies and solutions for mission-critical national security programs, announced today that on Dec. 22, 2010, the company completed the acquisition of MTCSC Inc. for $75 million in cash. The completed acquisition adds additional Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) systems integration and cyber capabilities to ManTech’s services portfolio.
Headquartered in Chula Vista, Calif., with a major presence in Stafford, Va., MTCSC provides C4ISR systems integration, cyber security and network engineering solutions to U.S. government customers. The company holds several large contracts with the U.S. Marine Corps, the majority of which are for classified efforts. MTCSC will be integrated with ManTech’s Systems Engineering and Advanced Technology (SEAT) group, led by Terry M. Ryan, SEAT group president and chief operating officer.
"The addition of MTCSC will help ManTech further expand our cyber and C4ISR solutions portfolio, allowing us to provide more comprehensive services to current and future customers," Ryan said. "The company has a strong pipeline of business opportunities and is well-known for its support of the Marine Corps. We welcome MTCSC to the ManTech family and look forward to working together to support the vital missions of our intelligence and defense customers."
ManTech expects that the acquisition will contribute solid growth and operating margins and be accretive to its earnings per share in 2011. The company will provide further discussion of the MTCSC transaction during its fourth quarter earnings conference call, which is scheduled for early 2011.
About ManTech International Corporation
Headquartered in Fairfax, Va., with approximately 10,000 professionals in 40 countries around the world, ManTech is a leading provider of innovative technologies and solutions for mission-critical national security programs for the intelligence community; the departments of Defense, State, Homeland Security and Justice; the space community; the National Oceanic and Atmospheric Administration; and other U.S. federal government customers. ManTech's expertise includes systems engineering, systems integration, enterprise architecture, cyber security, information assurance, intelligence operations and analysis support, network and critical infrastructure protection, information operations and information warfare support, information technology, communications integration, global logistics and supply chain management, and service-oriented architectures. Additional information on ManTech can be found at www.mantech.com.
Statements and assumptions made in this press release, which do not address historical facts, constitute "forward-looking" statements that ManTech believes to be within the definition in the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties, many of which are outside of our control. Words such as "may," "will," "intends," "should," "expects," "plans," "projects," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or "opportunity," or the negative of these terms or words of similar import are intended to identify forward-looking statements.
These forward-looking statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated, including, without limitation: adverse changes in U.S. government spending priorities; failure to retain existing U.S. government contracts, win new contracts or win recompetes; risks associated with complex U.S. government procurement laws and regulations; adverse results of U.S. government audits of our government contracts; adverse changes in our mix of contract types; risk of contract performance, modification or termination; curtailment of the U.S. government's outsourcing of certain services that we provide; failure to obtain option awards, task orders or funding under contracts; risks of financing, such as increases in interest rates and restrictions imposed by our outstanding indebtedness, including the ability to meet financial covenants, and risks related to an inability to obtain new or additional financing; failure to successfully integrate recently acquired companies or businesses into our operations or to realize any accretive or synergistic effects from such acquisitions; failure to identify, execute or effectively integrate future acquisitions; and competition. These and other risk factors are more fully discussed in the section entitled "Risks Factors" in ManTech's Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2010, and, from time to time, in ManTech's other filings with the Securities and Exchange Commission, including among others, its reports on Form 10-Q.
The forward-looking statements included in this news release are only made as of the date of this press release, and ManTech undertakes no obligation to publicly update any of the forward-looking statements made herein, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.