Increases Presence at Ft. Huachuca and Kirtland Air Force Base
FAIRFAX, Va., Dec 01, 2008 (BUSINESS WIRE) -- ManTech International Corporation (Nasdaq:MANT) closed the
acquisition of EWA Services, Inc., a wholly owned subsidiary of
Electronic Warfare Associates, Inc., under the terms of the definitive
purchase agreement dated November 28, 2008. EWA Services is a leading
provider of information technology, threat analysis and test and
evaluation for several Department of Defense agencies.
Headquartered in Herndon, VA and founded in 1991, EWA Services is
privately held and its largest customers include the Joint
Interoperability Test Command, a field activity of the Defense
Information Systems Agency, and the Big Crow Program Office at Kirtland
Air Force Base. More than 90% of EWA Services' 170 employees have
security clearances. ManTech expects the company to generate 2009
revenues of $20 million with solid operating margins.
George J. Pedersen, Chairman and CEO, ManTech International Corporation
said, "We welcome EWA Services to the ManTech team and look forward to
continuing our long-term partnership. We are excited about their
complementary skillsets and similar dedication to the DoD and
Intelligence mission."
The transaction is expected to be accretive to ManTech's earnings per
share in 2009. Financial terms of the transaction were not disclosed.
The Company used cash available and borrowings from its senior secured
credit facility to finance the acquisition.
About ManTech International Corporation:
Headquartered in Fairfax, Virginia with more than 7,700 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.
SOURCE: ManTech International Corporation
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
