ManTech International [MANT] yesterday said it has agreed to acquire MTCSC Inc., a provider of C4ISR systems integration, cyber security and network engineering solutions to the U.S. military, for $75 million in cash.
The deal is expected to close this year and be accretive to ManTech’s earnings in 2011. MTCSC is expected to have $83 million in sales this year.
MTCSC, which is based in California, holds several large contracts with the Marine Corps, which accounts for more than 50 percent of its business. Most of most of work for the Marine Corps is classified. The company’s Marine Corps customers include Systems Command, the Intelligence Activity, Operational Test and Evaluation Activity, and Tactical Systems.
The company’s other customers include the Navy, Defense Information Systems Agency and the Joint Improvised Explosive Device Defeat Organization.
“We are excited to expand our capabilities and customer footprint with the acquisition of MTCSC,” George Pedersen, chairman and CEO of ManTech, said in a statement. “The Marine Corps and C4ISR will continue to get priority funding.”
Terry Ryan, president of ManTech’s Systems Engineering and Advanced Technology (SEAT) group, said in a statement that his company sees demand picking up for C4ISR systems integration and commercial-off-the-shelf products in support of overseas military deployments.
“MTCSC offers best-in-class core competencies around quick-reaction integration, logistics and sustainment of classified technical intelligence systems,” Ryan said.
MTCSC, which has a major presence in Northern Virginia, will become part of the SEAT group. The company has about 300 employees.
McGladrey Capital Markets was the financial adviser to MTCSC on the sale.