ManTech acquires CTX

ManTech International Corp. of Fairfax, Va., is acquiring CTX Corp. of Vienna, Va., a provider of information technology and software strategies and solutions to the U.S. national intelligence community.

ManTech is buying CTX for $34 million in cash plus the repayment of CTX debt up to $1.3 million. The transaction should close by the end of 2002, according to ManTech.

ManTech provides information technology and technical services solutions to the Department of Defense and the intelligence community.

CTX provides solutions that help customers modernize information systems, collaborate across and within government enterprises, and develop and implement data mining techniques to better use information from large-scale data repositories.

Almost 94 percent of CTX's estimated $35 million in revenue for 2002 comes from intelligence community customers. About 89 percent of the 188 CTX employees hold top-secret security clearances, according to ManTech.


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