ManTech International Corporation (NASDAQ: MANT) announced today that it has completed the acquisition of Worldwide Information Network Systems (WINS) for $90 million in cash. WINS provides specialized IT solutions in network and infrastructure engineering, enterprise architecture, cyber security and systems development, software development and integration, and end-user workspace management. The acquisition will enable ManTech to deliver IT services through WINS's prime position on the Defense Intelligence Agency's (DIA) Solutions for Information Technology Enterprises (SITE) contract, an indefinite delivery/indefinite quantity (IDIQ) contract vehicle with a $6.6 billion ceiling and period of performance through 2015. The acquisition is expected to be accretive to ManTech's earnings per share in 2012.
WINS will become a part of ManTech's Mission, Cyber and Technology Solutions group, led by L. William Varner. Mr. Varner said, "WINS innovative IT capabilities fit well with our existing business. With WINS we will be able to offer our customers more comprehensive solutions to overcome their complex network challenges. We look forward to working with their talented employees to provide continued excellent service to our customers."
Mr. George J. Pedersen, ManTech Chairman and Chief Executive Officer, said, "We are extremely pleased to be able to complete the acquisition of WINS so quickly and begin incorporating WINS and its extraordinary people into the ManTech family. WINS is a great fit for our strategy of broadening our reach in the growing areas of national-security technology, such as cyber security and systems integration."
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