ManTech International [MANT] yesterday said it has completed its acquisition of Sensor Technologies Inc. (STI) for $242 million in cash, giving it a prime position on the Army’s Strategic Services Sourcing (S3) contract.
STI has received $2.5 billion in task orders so far under the S3 contract. That contract accounts for over 90 percent of STI’s revenues.
STI provides C4ISR services and solutions to the Army and Defense Department. ManTech expects the acquisition to add $450 million to its sales this year and at least $31 million to its earnings before interest, taxes, depreciation and amortization.