ManTech Completes the Acquisition of InfoZen
ManTech International Corporation (Nasdaq:MANT) announced today that it has completed the acquisition of InfoZen for $180 million in cash. InfoZen is a leading IT solutions provider with domain expertise in modernization, agile / DevOps software development, cloud migration, and threat monitoring and assessment capabilities in support of critical national and homeland security missions.
InfoZen will become a part of ManTech's Mission Solutions and Services (MSS) group, led by Daniel J. Keefe. Mr. Keefe said, "The combination enhances our capabilities in enterprise and mission IT solutions, and strengthens our long-standing relationships with the Department of Homeland Security (DHS) and the National Aeronautics and Space Administration (NASA). Our mission-focused cultures are well aligned and we look forward to working with their talented employees to provide continued excellent service to our customers."
"We are pleased to complete the acquisition of InfoZen and formally welcome its extraordinary employees into the ManTech family. We are very excited about the prospects for our combined company," said ManTech's President and Chief Operating Officer, Kevin M. Phillips.
ManTech funded the acquisition from cash on hand and its existing line of credit. InfoZen is expected to add approximately $25 million of revenue to the remainder of ManTech's fiscal year and fourth quarter.
