ManTech International Corporation (NASDAQ:MANT) has completed the
acquisition of ALTA Systems, Inc. of Fairfax, Va., an Information
Technology (IT) and professional services company with valuable
applications in healthcare systems and capital planning.
ALTA provides a broad range of IT and professional services to
government and private industry in three major practice areas: capital
planning and investment control; system design, development and
operation; and fraud detection and statistical analysis.
The acquisition will enable ManTech to deliver technology services
through ALTA's prime position on the Centers for Medicare and Medicaid
Services (CMS) Enterprise Systems Development (ESD) contract, an
Indefinite Delivery/Indefinite Quantity (ID/IQ) contract vehicle with a
$4 billion ceiling and period of performance through May 2018.
"This acquisition is consistent with our strategy to steadily expand our
service offering in the growing healthcare market," said ManTech
Chairman and Chief Executive Officer George J. Pedersen. "ManTech will
continue to pursue acquisition opportunities that help us drive organic
growth and support our customers' critical missions. The Patient
Protection and Affordable Care Act (PPACA) will require significant
investment in IT systems and processes. With the acquisition of ALTA,
ManTech is better positioned to help government programs and healthcare
providers meet their responsibilities to provide efficient and
comprehensive health care." ALTA will become part of ManTech's existing
health care business.
ALTA CEO Cindy Perlberg added, "We are proud to become part of a company
like ManTech, which has such a strong record and trusted name in IT. Our
customers will benefit from the broader service offering of the combined
company and our employees will benefit from expanded professional
ManTech used available cash to finance the acquisition. It does not
expect the transaction to have a material impact on its 2013 financial
About ManTech Intrnational Corporation
ManTech is a leading provider of innovative technologies and solutions
for mission-critical national security programs for the intelligence
community; the Department of Defense, including its health
organizations; the departments of State, Homeland Security, Energy and
Justice, including the Federal Bureau of Investigation (FBI); the space
community; and other U.S. federal government customers. We provide
support to critical national security programs for approximately 60
federal agencies through approximately 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 (IT)
modernization and sustainment; systems engineering; test and evaluation;
and health IT. 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," or "estimate," 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: adverse changes in U.S.
government spending levels for programs we support due to budgetary
constraints affecting federal government spending, changing mission
priorities or other factors; adverse changes in our mix of contract
types; failure to retain existing U.S. government contracts, win new
contracts or win recompetes; failure to obtain option awards, task
orders or funding under contracts; risk of contract renegotiation,
performance, modification or termination; competition; failure to
maintain strong relationships with other contractors; failure to
successfully integrate recently acquired companies or businesses into
our operations or to realize any accretive or synergistic effects from
such acquisitions; risks associated with complex U.S. government
procurement laws and regulations; adverse results of U.S. government
audits of our government contracts; risks of financing, such as
increases in interest rates and restrictions imposed by our outstanding
indebtedness, including the ability to meet financial covenants, and
risks related to an inability to obtain new or additional financing; and
failure to identify, execute or effectively integrate future
acquisitions. 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. 24, 2012, 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.
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