ManTech to buy MTCSC Inc.
Acquisition strengthens ManTech’s C4ISR systems integration and cyber capabilities, and access to new U.S. Marine Corps intelligence customers
Fairfax, Virginia-based ManTech International Corporation announced that it has signed a definitive agreement to acquire MTCSC Inc., a provider of Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) systems integration, cyber security and network engineering solutions to U.S. government customers, for $75 million in cash. ManTech intends to fund the acquisition from existing cash balances. The transaction, which is subject to certain closing conditions, is expected to be completed by the end of the year and be accretive to ManTech’s earnings per share in 2011.
Headquartered in Chula Vista, California, with a major presence in Stafford, Virginia, MTCSC expects to produce approximately $83 million in revenue in 2010.
The company holds several large contracts with the U.S. Marine Corps, the majority of which are for classified efforts. MTCSC will become a part of ManTech’s Systems Engineering and Advanced Technology (SEAT) group.
We are excited to expand our capabilities and customer footprint with the acquisition of MTCSC,” said ManTech chairman and CEO George J. Pedersen. “The Marine Corps and C4ISR will continue to get priority funding. This acquisition fits well with ManTech’s long-term strategy of focusing on high-end defense and intelligence technology support.”
MTCSC owner and CEO David Camarata said, “Together, MTCSC and ManTech will provide numerous benefits to our customers due to ManTech’s capabilities and presence with key customers. The acquisition also provides expanded professional development opportunities for MTCSC employees.”
“We see accelerating demand for C4ISR systems integration of commercial-off-the-shelf (COTS) products in support of enduring worldwide deployments, and MTCSC is the premier provider of these services to the U.S. Marine Corps,” said Terry M. Ryan, group president/chief operating officer, ManTech Systems Engineering and Advanced Technology. “MTCSC offers best-in-class core competencies around quick-reaction integration, logistics and sustainment of classified technical intelligence systems.”
