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Mantech To Acquire McDonald Bradley
Fairfax VA (SPX) Nov 20, 2007 ManTech International has signed a definitive agreement to acquire McDonald Bradley for $76.5 million in cash. MBI is a secure information sharing and IT solutions provider to the federal government with a focus on the Department of Defense (DOD), Intelligence Community and Homeland Security markets. Over 60 percent of the company's revenue is derived from DOD, Intelligence and Homeland Security markets with the Defense Intelligence Agency (DIA) as their largest customer. Two-thirds of MBI's 270 employees hold security clearances with 45 percent holding Top Secret level or above clearances. The transaction is expected to be accretive to ManTech's earnings per share in 2008. Headquartered in Herndon, VA and founded in 1985, MBI is a privately-held company and leading provider of high-end, mission-critical, technology-differentiated solutions primarily in the areas of Service Oriented Architectures, data interoperability and information assurance. The company is a prime contractor on the Department of Homeland Security's (DHS) EAGLE contract and expects to deliver over $50 million in revenue in 2007, with strong operating margins and solid growth prospects into 2008 and beyond. "MBI is in line with our M and A strategy and deepens our capabilities in the high-end defense, intelligence and homeland security markets and expands our presence into new markets," said George J. Pedersen, Chairman and CEO, ManTech International Corporation. "MBI is a great company that will help us provide expanded technology solutions to our national security customer base." Ken Bartee, CEO and President, McDonald Bradley, Inc. said, "We are extremely excited to come together with ManTech as our cultures and focus on leading-edge technology solutions will enable our organizations to quickly create stronger in-roads into our customer sets. As important, ManTech provides continuity for our senior management team and expanded professional development opportunities for our employees. They also share our high ethical standards and track record of strong operating performance and our commitment to accomplishing the customer's mission." Robert A. Coleman, President and COO, ManTech International Corporation said, "The MBI acquisition strengthens our position as a leading provider of secure information sharing and data interoperability solutions in the national security marketplace. We expect to see immediate benefits from our combined capabilities in the Intelligence Community and particularly DIA where we have worked as a team supporting some of their most important mission-critical programs. "Additionally, MBI brings us a prime position on the DHS EAGLE contract and other new customers which is consistent with our strategic plan to broaden our business base into new agencies." Related Links The Military Industrial Complex at SpaceWar.com Learn about the Superpowers of the 21st Century at SpaceWar.com
US Saudi arms package faces fight in Congress
Washington (AFP) Nov 19, 2007Lawmakers are striking a note of alarm over reported US plans to sell sophisticated satellite guided bombs to Saudi Arabia, as part of a 20 billion dollar arms sale. |
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