ManTech closes $242M deal for Sensor Technologies
Acquisition is expected to add about $450 million to its annual revenue
- By David Hubler
- Jan 19, 2010
ManTech International Corp. announced today that it completed the acquisition of Sensor Technologies Inc. on Jan. 15. The purchase price was $242 million in cash.
Founded in 1991, the Red Bank, N.J., company is a provider of mission-critical systems engineering and command, control, communications, computers, intelligence, surveillance and reconnaissance services and solutions to the Defense Department, according to the ManTech announcement.
The Army is STI’s biggest customer, including its prime position on the S3 Indefinite Delivery/Indefinite Quantity contract, on which it has received more than $2.5 billion in task orders to date, the announcement said.
ManTech said it expects that the acquisition will add about $450 million to its revenue and at least $31 million to its earnings before interest, taxes, depreciation and amortization in fiscal 2010.
ManTech’s Technical Services Group has begun integrating the acquisition and has hired nearly 400 people for the recent $286 million win at the Army Electronic Proving Grounds, “which position us for excellent growth in 2010,” said Lawrence Prior, ManTech president and chief operating officer.
ManTech, of Fairfax, Va., ranks No. 48 on Washington Technology’s 2009 Top 100 list of the largest federal government prime contractors.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.