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ManTech Divests Commercial Software Division; Obtains Minority Ownership Stake in CounterTack

FAIRFAX, Va., July 15, 2015 (GLOBE NEWSWIRE) -- ManTech International Corporation (Nasdaq:MANT) has completed the divestiture of ManTech Cyber Solutions International (MCSI), its commercial software division, to CounterTack. The addition of MCSI’s products and intellectual property enhances CounterTack’s leadership position in the Endpoint Detection and Response market by combining real-time operating system-level behavioral threat detection with in-memory threat analysis. ManTech will become an equity investor in CounterTack, as well as a global distribution partner. As part of the transaction, L. William Varner, president, ManTech Mission, Cyber and Intelligence Solutions Group, will join CounterTack’s Board of Directors as a Board Observer.

“ManTech is a leader in the growing cyber services market,” said ManTech Chairman and Chief Executive Officer George J. Pedersen. “Investing in CounterTack offers ManTech potential upside in high demand cyber products, specifically next-generation endpoint security, and enables us to focus on our core strength in cyber services. With the recent addition of Knowledge Consulting Group, ManTech has an unparalleled set of people and capabilities ready to secure the data and networks of government and commercial customers.”

“We’re thrilled to have MCSI and its innovative products as part of CounterTack to deliver cutting edge EDR technology to our combined customer base and to the market,” said Neal Creighton, president and CEO, CounterTack. “The powerful combination of real-time operating system surveillance with in-memory threat analysis capabilities positions CounterTack as a clear market leader, and we look forward to driving more value for our customers with new products and services.”

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, Veterans Affairs, and Justice, including the Federal Bureau of Investigation; 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 1,100 current contracts. ManTech’s expertise includes cyber security; command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) solutions and services; information technology (IT) modernization and sustainment; intelligence/counter-intelligence solutions and support; systems engineering; healthcare analytics and IT; global logistics support; test and evaluation; and environmental, range, and sustainability services. 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.

About CounterTack

CounterTack is the leading provider of real-time, Big Data endpoint detection and response technology for the enterprise. CounterTack provides unprecedented visibility and context around endpoint behavior to targeted, persistent threats to improve incident response and threat detection, enterprise-wide.

Built on Big Data architecture to counter endpoint threats at-scale and leveraging tamper-resistant collection for pure behavioral capture on enterprise endpoints, (laptops, servers, workstations, mobile devices) CounterTack dramatically reduces the impact of advanced attacks in real-time, giving teams an opportunity to defend the enterprise before incidents escalate.

Forward-Looking Information

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 or other federal budget constraints generally; delays in the competitive bidding process caused by competitors’ protests of contract awards received by us or other factors; uncertainty regarding the timing and nature of government action to complete the budget and appropriations process, continue federal government operations or 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; renegotiation, modification or termination of our contracts; 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; 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; 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; and adverse results of U.S. government audits or other investigations of our government contracts. These and other risk factors are more fully discussed in the section entitled “Risk Factors” in ManTech’s Annual Report on Form 10-K previously filed with the Securities and Exchange Commission on Feb. 20, 2015, 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.

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ManTech International Corporation Lynn Davis, 703-259-3636 lynn.davis@mantech.com

Source:ManTech International Corporation