FAIRFAX, Va.--(BUSINESS WIRE)--Aug. 19, 2008--ManTech
International Corporation (Nasdaq:MANT) announced that it has entered
into a definitive agreement to acquire Emerging Technologies Group
(ETG), a rapidly growing provider of cyber security and mission
critical services to the Intelligence Community and DoD. The
transaction is expected to be accretive to ManTech's earnings per
share in 2008. Financial terms of the transaction were not disclosed.
Headquartered in Herndon, VA and founded in 2001, ETG is a
privately held and highly-specialized company providing computer
network operations and computer forensics. ETG delivers specific
expertise in SIGINT and COMINT analysis supporting the
counterterrorism/counterintelligence missions around the world. All of
ETG's employees have high-level clearances. ManTech expects the
company to generate 2009 revenues of approximately $20 million with
solid operating margins.
"This acquisition adds further breadth to ManTech in the high-end
intelligence arena and strengthens our position as a leader in cyber
security," said George J. Pedersen, Chairman and CEO, ManTech
International Corporation. "ETG is an exceptional company with a
proven track record of strong growth, profitability, and excellence in
customer service."
Robert A. Coleman, President and COO, ManTech International
Corporation said, "The ETG acquisition adds depth to our cyber
security operations and positions ManTech to capture additional work
related to the Comprehensive National Cyber Initiative."
Tiffanny Gates, President and CEO, ETG said, "We have
strategically grown our company around critical mission requirements
of our Intelligence and DoD customer base. Combining with ManTech
allows ETG to offer broader solutions to our national security client
base. Just as important, our mission-focused cultures are aligned and
ManTech will be able to offer expanded professional development
opportunities for ETG employees."
The acquisition is subject to various closing conditions and
approvals and is expected to be completed in the third quarter of
2008.
About ManTech International Corporation:
Headquartered in Fairfax, Virginia with more than 7,400
professionals, ManTech International Corporation 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 and
other U.S. federal government customers. ManTech's expertise includes
systems engineering, systems integration, software development,
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,
logistics and supply chain management, and service oriented
architectures. The company supports the advanced telecommunications
systems that are used in Operation Iraqi Freedom and in other parts of
the world; has developed a secure, collaborative communications system
for the U.S. Department of Homeland Security; and builds and maintains
secure databases that track terrorists. The company operates in the
United States and 40 countries. In 2008, BusinessWeek magazine chose
ManTech for its 2008 'InfoTech 100' listing representing the best
performing tech companies in the world. In 2007, ManTech was named one
of BusinessWeek.com's fastest growing tech companies; to Business 2.0
magazine's 100 Fastest Growing Technology Companies list for the
second year in a row; to the Deloitte & Touche list of the 50 fastest
growing technology companies in Virginia; and a GI Jobs magazine Top
Ten Military Friendly Employer. Additional information on ManTech can
be found at www.mantech.com.
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," "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; adverse results of U.S. government audits of our
government contracts; risks associated with complex U.S. government
procurement laws and regulations; adverse effect of contract
consolidation; risk of contract performance or termination; failure to
obtain option awards, task orders or funding under contracts; adverse
changes in our mix of contract types; 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 March 17, 2008, 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 news 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
Joseph Cormier
Vice President, Corporate Development
703-218-8258
joe.cormier@mantech.com
or
Mark Root
Executive Director, Corporate Communications
703-218-8397
cell: 571-259-1169
mark.root@mantech.com
SOURCE: ManTech International Corporation
