ManTech International Corporation (Nasdaq: MANT) announced today that it has signed a definitive agreement to acquire Worldwide Information Network Systems, Inc. (WINS) for $90 million in cash. WINS is a leading IT solutions provider, specializing in network and infrastructure engineering, enterprise architecture, cyber security and systems development, software development and integration, and end-user workspace management. ManTech expects the acquisition to be accretive to its earnings per share in 2012.
Headquartered in Seabrook, Maryland and founded in 2001, WINS is a privately held company providing global support and IT services to the Department of Defense, Department of State and other agencies. WINS will become a part of ManTech's Mission, Cyber and Technology Solutions group, led by L. William Varner.
The acquisition will enable ManTech to deliver IT services through WINS' prime position on the Defense Intelligence Agency's (DIA) Solutions for Information Technology Enterprises (SITE) contract, an indefinite delivery/indefinite quantity contract vehicle with a $6.6 billion ceiling and period of performance through 2015.
"This acquisition is consistent with ManTech's long-term strategy to extend our presence in the defense and intelligence markets," said ManTech's Chairman and Chief Executive Officer, George J. Pedersen. "The addition of WINS' IT capabilities, prime position on the DIA SITE and other contracts will enhance our positioning with important customers and further our growth prospects."
"We are delighted to join ManTech," said Ulysese Jefferson, president and chief executive officer of WINS. "WINS' unique and innovative IT capabilities will bolster ManTech's significant industry expertise, thus allowing WINS to provide enhanced capability and services to our existing customers. Our core customers need robust IT solutions to overcome tough, complex network challenges. Alongside ManTech, customers will be able to accomplish their missions with more comprehensive offerings of IT solutions."
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