ManTech acquires Gray Hawk
- By Roseanne Gerin
- May 05, 2005
ManTech International Corp. is buying Gray Hawk Systems Inc., an intelligence systems provider, for $100 million in a deal that will help ManTech bust the $1 billion revenue barrier.
The all cash acquisition is expected to close within a month, ManTech said Wednesday.
Based in Alexandria, Va., Gray Hawk Systems is a privately held technology company that provides intelligence-related services to the homeland security, law enforcement, defense and intelligence agencies. The company specializes in critical infrastructure protection, counterintelligence/counterterrorism mission support, information processing and warfare systems engineering.
Gray Hawk Systems employs 500 workers, about 90 percent with security clearances. The company had 2004 revenue of approximately $70 million and estimates 2005 revenue of $90 million, according to ManTech.
In 2004, Gray Hawk was ranked No. 20 on Washington Technology's Fast 50 list of the fastest growing small businesses in the government IT market.
"This acquisition is consistent with ManTech's growth strategy to broaden our footprint in the high-end intelligence, homeland security and defense markets," said George Pedersen, the company's chairman and chief executive officer. "This acquisition also positions us to reach the $1 billion revenue mark in the near future."
Based in Fairfax, Va., ManTech provides technologies and solutions focused on mission-critical national security programs to the federal government. The company employs more than 5,500 people and had 2004 revenue of $842.4 million. It is No. 22 on Washington Technology's 2004 Top 100 list of federal prime contractors. The 2005 Top 100 list will be released May 9.