ManTech Completes Acquisition of Business of HBGary
- Acquisition expands cyber security solutions offering to commercial market.
ManTech International Corporation (NASDAQ:MANT) announced today that it has completed the acquisition of the business of HBGary, Inc. of Sacramento, Ca.
HBGary provides a comprehensive suite of software products to detect, analyze, and diagnose Advanced Persistent Threats (APT) and targeted malware. The company has an impressive list of commercial customers in the financial services, energy, critical infrastructure and technology sectors. HBGary will become part of a new commercial business unit within ManTech's Mission, Cyber, & Intelligence Solutions (MCIS) group, led by Senior Vice President of Cyber Strategy, Ken Silva.
"The combination of ManTech and HBGary will create a broader cyber security solution capability for both our commercial and government customers," said L. William Varner, president and chief operating officer of ManTech's Mission, Cyber, and Intelligence Solutions group. "I am excited to welcome HBGary to my organization and look forward to expanding our opportunities in protecting cyberspace and developing new capabilities."
Mr. George J. Pedersen, ManTech Chairman and Chief Executive Office, said, "We are pleased to complete the acquisition of HBGary and delighted to add its thought leaders to the ManTech family. Together, ManTech and HBGary will break new ground in the growing cyber security market."
The transaction is not expected to have a material impact on the Company's 2012 financial results. Financial terms of the transaction were not disclosed. The Company used cash available to finance the acquisition.
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Source : ManTech International Corp.