IT securityManTech acquires ETG
ETG is a privately held and highly specialized company providing computer network operations and computer forensics; in acquiring it, ManTech signals its intent to expand further into the cybersecurity counter-terrorism technology support market
ManTech International (NASDAQ: MANT) announced plans last week to acquire Emerging Technologies Group (ETG) to expand its reach into the U.S. Defense Department cybersecurity market. ManTech announced an agreement to buy Virginia-based computer forensics company ETG. Officials say the acquisition is part of an effort by ManTech to expand further into the cybersecurity counter-terrorism technology support market. Headquartered in Herndon, Virginia and founded in 2001, ETG is a privately held and highly specialized company providing computer network operations and computer forensics. ETG delivers specific expertise in SIGINT and COMINT analysis supporting the counterterrorism/counterintelligence missions around the world. All of ETG’s employees have high-level clearances. ManTech expects the company to generate 2009 revenues of approximately $20 million with solid operating margins.
“This acquisition adds further breadth to ManTech in the high-end intelligence arena and strengthens our position as a leader in cybersecurity,” George Pedersen, ManTech chairman and chief executive officer, said in a statement. “ETG is an exceptional company with a proven track record of strong growth, profitability and excellence in customer service.”
Tiffanny Gates, president and CEO, ETG said, “We have strategically grown our company around critical mission requirements of our Intelligence and DoD customer base. Combining with ManTech allows ETG to offer broader solutions to our national security client base. Just as important, our mission-focused cultures are aligned and ManTech will be able to offer expanded professional development opportunities for ETG employees.”
Terms of the deal were not released.
More about ManTech
ManTech has received an up to $820 million, two-year contract from the United States Army TACOM Life-Cycle Management Command, Program Office to support unique and specialized Route Clearance Improvised Explosive Devices (IEDs) detection, removal, and troop transport vehicles. ManTech is the prime contractor for the program which has a one-year base and two six month option periods. Support will be provided to PM Force Protection/PM Assured Mobility Systems.
Equipment and systems supported by ManTech includes mine detection systems, mine retrieval systems, and medium and heavy mine protected vehicles. Services provided by ManTech include deployed sustainment workforce management; parts analysis and procurement; and field logistics and maintenance management. ManTech also provides system training and curriculum support; resource management; and acquisition and administrative support. Work will be performed in Southwest Asia to include Iraq and Afghanistan. “ManTech has a strong interest in sustainment of these critical assets which protect our armed forces,” said George Pedersen, chairman and CEO, ManTech International Corporation. “We are committed to the safety and security of our troops and helping to fight the Global War On Terrorism.”
Robert Coleman, ManTech president and COO, said, “We are uniquely qualified to meet the challenges of this important time-sensitive work to support the men and women of our U.S. Armed Forces and this mission-critical equipment that must be operated and maintained in some of the most hazardous areas around the world. Since 2003, ManTech has been the preferred contractor to maintain route clearance and countermine/counter IED systems and equipment.”
