ManTech Intl To Acquire InfoZen For $180 Mln In Cash

(RTTNews) - ManTech International Corp. (MANT) Monday announced today that it has signed a definitive agreement to acquire InfoZen for $180 million in cash. The acquisition to be slightly accretive to its earnings per share in 2017.

ManTech plans tp fund the acquisition from cash on hand with additional funding from its existing line of credit. The acquisition will add over 300 highly skilled employees and will substantially increase ManTech's strong footprint at DHS.

InfoZen, headquartered in Bethesda, is an 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.

Raj Ananthanpillai, Chief Executive Officer, InfoZen said, "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."