Acquisition adds health-sector expertise and customer base to ManTech’s already strong federal footprint.
FAIRFAX, Va.--(BUSINESS WIRE)-- ManTech International Corporation (NASDAQ:MANT) today completed the acquisition of Evolvent Technologies, Inc. of Herndon, Va., a focused healthcare-systems integrator with particular strength in federal healthcare systems.
Evolvent provides services in clinical IT, clinical business intelligence, imaging cyber security, behavioral health, tele-health, software development, and systems integration. Its systems and processes enable better decision-making at the point of care and full integration of medical information across different platforms.
ManTech expects the acquisition to contribute solid growth and operating margins and be accretive to its earnings per share in 2012. The acquisition will enable ManTech to deliver information technology solutions through Evolvent’s existing relationships with DoD Health organizations, the Veterans Administration and the Department of Health and Human Services. Evolvent will become part of ManTech’s Systems Engineering & Advanced Technology (SEAT) group.
“It is a pleasure to welcome a quality company like Evolvent into the ManTech family and increase our presence in the growing healthcare market,” said ManTech Chairman and CEO George J. Pedersen. “Evolvent has an exceptional leadership team and a strong record of innovation and customer care. Most importantly, the people of Evolvent understand the healthcare system from the patient-provider relationship through the integration of data and images and the management of records. They are a great match for ManTech’s proven capabilities in enterprise IT and systems integration.”
Evolvent Chairman and CEO Bill Oldham added, "We are proud to become part of a company like ManTech, which has such a strong record and trusted name in IT. We look forward to being part of an assertive ManTech effort to deliver health IT services to a broader government and private market.”
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.
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. 25, 2011, 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.
Lauren Kushin, 703-218-6406
KEYWORDS: United States North America District of Columbia Virginia
INDUSTRY KEYWORDS: Technology Networks Software Health Public Policy/Government Other Health White House/Federal Government General Health