FAIRFAX, Va., June 16, 2015 (GLOBE NEWSWIRE) -- ManTech International Corporation (Nasdaq:MANT) has completed the acquisition of Knowledge Consulting Group (KCG), a rapidly growing cyber security advisor in both the public and private sectors focused on anticipating threats and implementing defensive countermeasures. ManTech will fund the acquisition from cash on hand with additional funding from its existing line of credit.
Headquartered in Reston, Virginia, and founded in 2000, KCG provides full lifecycle cyber security solutions in risk assurance, cyber operations, and infrastructure security to identify and manage risk for our nation’s most critical infrastructures and institutions. Leveraging its repeatable, full lifecycle approach, KCG can enable an organization to navigate the complexities of the evolving cyber security landscape and assure the security of its assets, information, and reputation. In addition, KCG is at the forefront of cloud security for government agencies as one of the first and most active cyber security companies accredited as a Third-Party Assessment Organization (3PAO) under the FedRAMP Program. KCG’s major customers include critical government agencies, such as the Departments of Homeland Security and Justice, as well as leading commercial solution providers.
The acquisition of KCG brings more than 200 cyber security professionals to ManTech’s Mission, Cyber and Intelligence Solutions Group, led by L. William Varner. The acquisition will be slightly accretive to 2015 financial results.
“ManTech is a cyber leader, and the acquisition of KCG fits with our strategy of expanding into the growing cyber services and homeland security markets,” said ManTech Chairman and Chief Executive Officer George J. Pedersen. “We are excited to add KCG’s talented people, trusted capabilities, and important customers to ManTech.”
“KCG looks forward to integrating seamlessly with ManTech to create the premiere provider of cyber defense solutions across federal and commercial customers,” said Dusty Wince, founder and chief executive officer of KCG. “KCG’s business leaders and I are all excited by the opportunity to leverage the resources of KCG and ManTech to expand our services to current customers and aggressively pursue new opportunities.”
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, Veterans Affairs, and Justice, including the Federal Bureau of Investigation; the health and space communities; and other U.S. federal government customers. We provide support to critical national security programs for approximately 50 federal agencies through approximately 1,100 current contracts. ManTech’s expertise includes cyber security; command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) solutions and services; information technology (IT) modernization and sustainment; intelligence/counter-intelligence solutions and support; systems engineering; healthcare analytics and IT; global logistics support; test and evaluation; and environmental, range, and sustainability services. ManTech supports major national missions, such as military readiness and wellness, terrorist threat detection, information security and border protection. 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: adverse changes or delays in U.S. government spending for programs we support due to cost cutting and efficiency initiatives, changing mission priorities or other federal budget constraints generally; delays in the competitive bidding process caused by competitors’ protests of contract awards received by us or other factors; uncertainty regarding the timing and nature of government action to complete the budget and appropriations process, continue federal government operations or address budgetary constraints or other factors; 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; renegotiation, modification or termination of our contracts; failure to perform in conformity with contract terms or our expectations; 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 recently acquired companies or businesses into our operations or to realize any accretive or synergistic effects from such acquisitions; failure to successfully identify and execute future acquisitions; 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; 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 procurement laws, regulations or processes; failure to maintain strong relationships with other contractors; 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. 20, 2015, 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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