ManTech Enhances Cyber Security Solutions with Acquisition of Business of HBGary
Acquisition expands cyber security solutions offering to commercial
market
FAIRFAX, Va.--(BUSINESS WIRE)--
ManTech International Corporation (NASDAQ:MANT) has signed a definitive
agreement to acquire the business of HBGary, Inc. of Sacramento, Ca. The
transaction, structured as an asset purchase and subject to certain
closing conditions, is expected to be completed in March.
HBGary provides a comprehensive suite of software products to detect,
analyze, and diagnose Advanced Persistent Threats (APT) and targeted
malware. The company has an impressive list of commercial customers in
the financial services, energy, critical infrastructure and technology
sectors. The business will be an integral part of ManTech's broad cyber
security offering.
"This acquisition enhances our capabilities in the growing cyber
security market," said L. William Varner, president and chief operating
officer of ManTech's Mission, Cyber and Technology Solutions group. "Our
recent hire of Ken Silva, who will lead this new business unit, was
instrumental in enabling ManTech to further develop its cyber security
strategy. The HBGary leadership team are recognized thought leaders in
this market. The combination of ManTech and HBGary will create a broader
cyber security solution capability for both our commercial and
government customers."
"ManTech will give HBGary significant and positive growth, expanding our
opportunities," said HBGary CEO Greg Hoglund. "HBGary's commercial
customers will benefit from the addition of ManTech's world-class
incident response services, and ManTech's government business will be
bolstered with a cutting edge set of products to protect
mission-critical IT assets."
"We're taking steps to expand in new growth markets, just as we have
always done," said ManTech Chairman and CEO George J. Pedersen. "ManTech
has a history of taking the skills we have gained in our core business
and applying it to new customers and new missions. We look forward to
adding HBGary into the ManTech family as we apply our combined cyber
capabilities to important commercial customers."
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; the space community; the
National Oceanic and Atmospheric Administration; and other U.S. federal
government customers. We provide support to critical national security
programs through 1,000 current contracts. ManTech's expertise includes
command, control, communications, computers, intelligence, surveillance
and reconnaissance (C4ISR) lifecycle support, cyber security, global
logistics support, intelligence/counter-intelligence support,
information technology modernization and sustainment, systems
engineering, and test and evaluation. ManTech supports major national
missions, such as military readiness, terrorist threat detection,
information security and border protection. 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,"
"expect", "intend," "anticipate," "believe," "estimate," or "continue,"
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: 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; adverse changes in U.S. government spending
priorities; failure to retain existing U.S. government contracts, win
new contracts or win recompetes; adverse changes in future levels of
expenditures for programs we support caused by budgetary pressures
facing the federal government and changing mission priorities; failure
to obtain option awards, task orders or funding under contracts; failure
to maintain strong relationships with other contractors; adverse changes
in our mix of contract types; adverse results of U.S. government audits
of our government contracts; risk of contract performance, modification
or termination; and risks associated with complex U.S. government
procurement laws and regulations; 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 previously filed with the
Securities and Exchange Commission on Feb. 24, 2012, 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.
ManTech International Corporation
Lauren Kushin, 703-218-6406
Lauren.kushin@mantech.com
ManTech-F
Source: ManTech International Corporation
News Provided by Acquire Media
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