Expands Cyber Operations Customer Set
FAIRFAX, Va.--(BUSINESS WIRE)--Mar. 16, 2009--
ManTech International Corporation (Nasdaq:MANT) announced that it
closed the acquisition of DDK Technology Group, Inc. (DDK) under the
terms of the definitive purchase agreement dated March 13, 2009. DDK is
a rapidly growing provider of cyber security to the DoD, with a
particular focus on the Naval Criminal Investigative Service (NCIS).
Headquartered in Lanham, MD, DDK is a privately held and
highly-specialized company providing cyber intelligence analysis,
computer and network forensics and counterterrorism/ counterintelligence
support and analysis globally. All of DDK’s employees have high level
clearances. ManTech expects the company to generate 2009 revenues of
approximately $14 million with solid operating margins.
“This acquisition continues ManTech’s focus on the high-end intelligence
arena and expands our footprint in cyber security to NCIS,” said George
J. Pedersen, Chairman and CEO, ManTech International Corporation. “DDK
is a great company with a proven track record of strong growth,
profitability, and commitment to customer service.”
Jerry Donahoe, Managing Partner and Tim Donahoe, President of DDK said,
“Our company has grown around our excellent people and the critical
mission requirements of our DoD customer base. Combining with ManTech
allows DDK to offer broader solutions to our national security client
base. Just as important, aligning our culture with ManTech will afford
our professionals with expanded career development opportunities.”
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 approximately 8,000
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 services,
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. 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 ‘InfoTech 100’ listing representing the best
performing tech companies in the world; Forbes.com named ManTech
as one of the 400 Best Big Companies in the nation; and A-Space, a Web
2.0 enhanced collaboration tool that ManTech developed for the
Intelligence Community was named one of the Top 50 Inventions of the
Year by Time magazine. Also in 2008, GI Jobs magazine
named ManTech a Top Ten Military Friendly Employer for the third year in
a row. 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 February 27, 2009, 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
Senior
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
