FAIRFAX, Va., June 13, 2016 (GLOBE NEWSWIRE) -- ManTech International Corporation (Nasdaq:MANT) has acquired Oceans Edge, Inc.’s cyber business, a leading provider of cyber network operations (CNO) solutions. ManTech funded the acquisition from cash on hand.
Headquartered in Reston, VA, “Oceans Edge Cyber” will add additional vulnerability research, development, and analysis capabilities to ManTech’s existing cyber intelligence business. Together, we are well positioned to provide advanced CNO capabilities with sophisticated intelligence and analytics. This acquisition will increase ManTech’s significant presence in this highly sought after segment of the U.S. government cyber solutions market to include service components of U.S. Cyber Command.
The acquisition of Oceans Edge Cyber brings highly-qualified cyber security professionals to ManTech’s Mission, Cyber and Intelligence Solutions (MCIS) Group, led by L. William Varner. The acquisition will be slightly accretive to 2016 financial results.
“This acquisition, along with our acquisition of KCG last year, expands our presence with customers who are critical to our nation’s future cyber operations and cyber defense. Additionally, Oceans Edge Cyber increases our advanced cyber offerings and the cadre of experienced cyber professionals providing full-spectrum cybersecurity services and solutions wherever the mission dictates,” said Varner.
“ManTech has established a strong reputation as a leader in the cyber market based on proven performance,” said George Pedersen, chief executive officer of ManTech International Corporation. “We look forward to developing next generation capabilities for advanced cyber operations and analytics that will protect our customers from emerging threats.”
About ManTech International Corporation
ManTech provides innovative technologies and solutions for mission-critical national security programs for the Intelligence Community; the Departments of Defense, State, Homeland Security, Health and Human Services, Veterans Affairs and Justice, including the Federal Bureau of Investigation (FBI); the space community; and other U.S. government customers. We support important national missions by providing services to approximately 50 federal government agencies under approximately 1,000 current contracts. ManTech's expertise includes cybersecurity; software and systems development; enterprise information technology; multi-discipline intelligence; program protection and mission assurance; systems engineering; test and evaluation (T&E); command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR); training; supply chain management and logistics; and management consulting. Additional information on ManTech can be found at www.mantech.com.
Forward-Looking Information
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: failure to compete effectively for new contract awards or to retain existing U.S. government contracts; failure to obtain option awards, task orders or funding under contracts; delays in the competitive bidding process caused by competitors' protests of contract awards received by us; adverse changes or delays in U.S. government spending for programs we support due to failure to complete the budget and appropriations process in a timely manner, changing mission priorities, the implementation of cost reduction and efficiency initiatives by our customers, or other federal budget constraints generally; inability to recruit and retain sufficient number of employees with specialized skill sets who are in great demand and limited supply; renegotiation, modification or termination of our contracts, or failure to perform in conformity with contract terms or our expectations; increased exposure to risks associated with conducting business internationally; failure to realize the full amount of our backlog or adverse changes in the timing of receipt of revenues under contracts included in backlog; failure to successfully integrate acquired companies or businesses into our operations or to realize any accretive or synergistic effects from such acquisitions; adverse changes in business conditions that may cause our investments in recorded goodwill to become impaired; non-compliance with, or adverse changes in, complex U.S. government laws, procurement regulations or processes; disruption of our business or damage to our reputation resulting from security breaches in customer systems, internal systems or service failures (including as a result of cyber or other security threats), or employee or subcontractor misconduct; and adverse results of U.S. government audits or other investigations of our government contracts. These and other risk factors are more fully discussed in the section entitled "Risk Factors" in ManTech's Annual Report on Form 10-K previously filed with the Securities and Exchange Commission on Feb. 19, 2016, 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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