Seeking to boost its capabilities and customer base in the cyber security arena, ManTech International [MANT] recently said it has agreed to acquire the computer security firm HBGary, Inc.
Terms of the deal, which is expected to close in March, were not disclosed.
For ManTech, the acquisition will significantly expand its base of commercial customers as well as cyber security technology. HBGary’s sales are not disclosed but about 75 percent of its business is with commercial customers, including the financial services, energy and health sectors. The rest of its business is government.
While ManTech largely serves the federal market, a company spokeswoman said recently that it will continue serving HBGary’s customers and the commercial market.
“We continue to see overlapping threats between both the federal and commercial markets,” she said.
HBGary, which is based in California, has a portfolio of software products to detect, analyze and diagnose advanced persistent threats and targeted malware. The spokeswoman said that these capabilities, including expertise in botnets, provides ManTech with enhanced capabilities in these areas and will “help fuel our internal research and development efforts to provide unique and unparalleled solutions for our federal customers.”
The pending acquisition fits with ManTech’s strategy to grow its cyber security business and capabilities. Ken Silva, senior vice president for Cyber Strategy within ManTech’s Mission, Cyber and Technology Solutions group, will lead the new business unit. ManTech said that HBGary’s senior leadership will remain with the company.
HBGary was founded in 2003. Early in 2011 the company’s own computer systems were hacked by the hacktivist group Anonymous.