ManTech International [MANT] yesterday said it has agreed to acquire Maryland-based Worldwide Information Network Systems, Inc. (WINS) for $90 million in cash on hand, boosting capabilities in information technology (IT) and expanding its contract base in the federal government.
The deal, which is expected to close next month, is subject to regulatory review. ManTech said the deal would be accretive to earnings in 2012.
WINS, a veteran-owned small business, made it on Inc. magazine’s 2010 Inc. 5000 annual ranking of fastest growing companies in the United States, with a three-year growth rate of 304 percent and $43.9 million in annual sales. The company says that since its founding in 2001, it has grown an average of 200 percent a year, with more than 90 percent of that growth coming from existing customers.
ManTech said the deal gives it “significant opportunities” in providing the intelligence community with IT services. WINS has a prime contract on the Defense Intelligence Agency’s multiple-award Solutions for Information Technology Enterprise contract, which has a $6.6 billion ceiling through 2015.
In addition to the Defense Department, WINS also provides IT services to the Departments of State, Homeland Security, Justice and Commerce. The company also works with larger prime contractors.
ManTech told Defense Daily that WINS provides it with new capabilities, particularly in network infrastructure engineering and migration of legacy IT systems to the cloud.
KippsDeSanto served as WINS’ financial adviser on the deal. WINS’ management will remain with the company.
WINS will become part of ManTech’s Mission, Cyber and Technology Solutions Group.