ManTech International Corp. has agreed to acquire IT solutions company InfoZen for $180 million in cash.
InfoZen has over 300 employees, and specializes in modernization, agile and DevOps software development, cloud migration, and threat monitoring and assessment capabilities for national security and homeland security missions, ManTech said.
The Bethesda, Maryland-based company has a track record of transforming legacy IT environments for its civilian agency customers, as well as long-standing relationships with the Homeland Security Department and NASA.
“This acquisition is consistent with ManTech’s long-term strategy to expand our presence in the federal civilian market and enhance our capabilities in IT modernization,” ManTech CEO George Pedersen said. “The combination will substantially increase ManTech’s already strong footprint at DHS, making it one of the largest providers of IT services across the department.”
Infozen CEO Raj Ananthanpillai said his company was proud to become a part of a large company like ManTech, which can give expanded professional development opportunities to InfoZen’s existing employees
“Combining with ManTech allows InfoZen to offer broader solutions to our national security customer base and expand our IT modernization capabilities reach across the government,” Ananthanpillai said.
ManTech President and Chief Operating Officer Kevin M. Phillips said the acquisition “will help us better meet our clients’ mission-critical needs, strengthen our enterprise and mission IT offerings and provide continued growth.”
ManTech will fund the acquisition from cash on hand with additional funding from its existing line of credit. It expects the acquisition to slightly add to its earnings per share in 2017.
The acquisition is subject to various closing conditions and approvals, including antitrust review, and is expected to be completed in October 2017, ManTech said.