FAIRFAX, Va., Feb. 19, 2014 (GLOBE NEWSWIRE) -- ManTech International Corporation (Nasdaq:MANT) has completed the acquisition of Allied Technology Group, Inc., an innovative engineering and information management solutions company with strong customer relationships and strategic contracts with the Department of Homeland Security (DHS).
Headquartered in Rockville, Maryland, and founded in 1986, Allied Technology Group is a privately held company providing IT, engineering services, program management, and training solutions to a variety of federal customers. Allied Technology will become part of ManTech's Mission Solutions & Services Group, led by Daniel J. Keefe.
The acquisition will enable ManTech to deliver services through Allied Technology's unrestricted prime positions on two DHS primary acquisition vehicles: the Technical, Acquisition, and Business Support Services (TABSS) and the Enterprise Acquisition Gateway for Leading Edge Solutions II (EAGLE II). Both of these IDIQ contracts, with a combined ceiling of $33 billion, are mandatory-use vehicles for most program management, systems engineering, and information technology work at DHS.
"This acquisition is consistent with ManTech's long-term strategy to extend our presence in growth markets," said ManTech Chairman and Chief Executive Officer George J. Pedersen. "DHS represents a large and fast growing budget, and the acquisition of Allied Technology Group will enhance our positioning with this important customer."
"We are delighted to join ManTech," said Florina Hoffer, president of Allied Technology Group. "The combination of Allied Technology and ManTech will enable us to better serve our customers and will provide enhanced career development opportunities for our employees."
ManTech will fund the acquisition from cash on hand and expects Allied Technology to contribute solid growth and operating margins and be accretive to ManTech's earnings per share in 2014.
About ManTech International Corporation
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, Energy and Justice, including the Federal Bureau of Investigation (FBI); the health and space communities; and other U.S. federal government customers. We provide support to critical national security programs for approximately 50 federal agencies through approximately 1,000 current contracts. ManTech's expertise includes command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and services; cyber security; global logistics support; information technology (IT) modernization and sustainment; intelligence/counter-intelligence solutions and support; systems engineering; test and evaluation; environmental, range and sustainability services; and healthcare analytics and IT. ManTech supports major national missions, such as military readiness and wellness, terrorist threat detection, information security and border protection. 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," "expect," "intend," "anticipate," "believe," or "estimate," or the negative of these terms or words of similar import are intended to identify forward-looking statements.
These forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes we anticipate. Factors that could cause actual results to differ materially from the results we anticipate, include, but are not limited to, the following: adverse changes or delays in U.S. government spending for programs we support due to cost cutting and efficiency initiatives, changing mission priorities and other federal budget constraints generally; uncertainty regarding the timing and nature of government action to complete the budget and appropriations process, continue federal government operations and otherwise address budgetary constraints, or other factors; failure to compete effectively for new contract awards or to retain existing U.S. government contracts; failure to obtain option awards, task orders or funding under contracts; delays in the competitive bidding process caused by competitors' protests of contract awards received by us or other factors; renegotiation, modification or termination of our contracts, or failure to perform in conformity with contract terms or our expectations; failure to realize the full amount of our backlog or adverse changes in the timing of receipt of revenues under contracts included in backlog; 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 successfully identify and execute future acquisitions; adverse changes in business conditions that may cause our investments in recorded goodwill to become impaired; non-compliance with, or adverse changes in, complex U.S. government procurement laws, regulations or processes; failure to maintain strong relationships with other contractors; adverse results of U.S. government audits or other investigations of our government contracts; disruption of our business or damage to our reputation resulting from security breaches in customer systems, internal systems or service failures (including as a result of cyber or other security threats) or employee or subcontractor misconduct; and adverse changes in our financing arrangements, such as increases in interest rates and restrictions imposed by our outstanding indebtedness, including the ability to meet financial covenants, or inability to obtain new or additional financing. These and other risk factors are more fully discussed in the section entitled "Risks Factors" in ManTech's Annual Report on Form 10-K previously filed with the Securities and Exchange Commission on Feb. 22, 2013, Item 1A of Part II of our Quarterly Reports on Form 10-Q, and, from time to time, in ManTech's other filings with the Securities and Exchange Commission.
The forward-looking statements included herein 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.
CONTACT: ManTech International Corporation Lynn Davis, 703-259-3636 firstname.lastname@example.org
Source:ManTech International Corporation