ManTech Completes the Acquisition of Kforce Government Solutions
April 01 2019 - 4:31PM
ManTech International Corporation (Nasdaq: MANT) announced
today that it has completed the acquisition of Kforce Government
Solutions (KGS) for $115 million in cash.
The acquisition builds ManTech’s footprint in
the federal health market, where KGS successfully supported
programs for customers including the Department of Veterans
Affairs. ManTech will continue this work for the VA through the
current Transformation Twenty-One Total Technology Next Generation
(T4NG) program.
“KGS enhances our strong position in one of the
fast-growing areas of the government services marketplace,” said
Kevin M. Phillips, ManTech’s President and CEO. “We are very
excited to join forces with them, and pleased to welcome the many
talented KGS employees to ManTech, where they will prove a natural
fit with our culture of total dedication to the customer
mission.”
About ManTech International Corporation
ManTech provides mission-focused technology
solutions and services for U.S. defense, intelligence community and
federal civilian agencies. In business more than 50 years, we
excel in full-spectrum cyber, data collection & analytics,
enterprise IT, systems and software engineering solutions that
support national and homeland security. Additional information
on ManTech can be found at www.mantech.com.
Forward-Looking Information
Statements and assumptions made in this press
release, which do not address historical facts, constitute
“forward-looking” statements that ManTech believes to be within the
definition in the Private Securities Litigation Reform Act of 1995
and involve risks and uncertainties, many of which are outside of
our control. Words such as “may,” “will,” “expect,” “intend,”
“anticipate,” “believe,” or “estimate,” or the negative of these
terms or words of similar import, are intended to identify
forward-looking statements.
These forward-looking statements are inherently
subject to risks and uncertainties, and actual results and outcomes
may differ materially from the results and outcomes we anticipate.
Factors that could cause actual results to differ materially from
the results we anticipate include, but are not limited to, the
following: failure to maintain our relationship with the U.S.
government, or compete effectively for contract awards; inability
to recruit and retain sufficient number of employees with
specialized skill sets or necessary security clearances who are in
great demand and limited supply; adverse changes in U.S. government
spending for programs we support, whether due to changing mission
priorities, socio-economic policies, cost reduction initiatives by
our customers, or other federal budget constraints generally;
disruption of our business or damage to our reputation resulting
from security breaches in customer systems, internal systems
(including as a result of cyber or other security threats), or
employee misconduct; failure to realize the full amount of our
backlog or adverse changes in the timing of receipt of revenues
under contracts included in backlog; issues relating to competing
effectively for awards procured through the competitive bidding
process; failure to obtain option awards, task orders or funding
under contracts; renegotiation, modification or termination of our
contracts, or failure to perform in conformity with contract terms
or our expectations; failure to successfully integrate acquired
companies or businesses into our operations or to realize any
accretive or synergistic effects from such acquisitions;
non-compliance with, or adverse changes in, complex U.S. government
laws, procurement regulations or processes; and adverse results of
U.S. government audits or other investigations of our government
contracts. These and other risk factors are more fully discussed in
the section entitled "Risk Factors" in ManTech's Annual Report on
Form 10-K previously filed with the Securities and Exchange
Commission on Feb. 22, 2019, Item 1A of Part II of our Quarterly
Reports on Form 10-Q, and, from time to time, in ManTech's other
filings with the Securities and Exchange Commission.
The forward-looking statements included herein
are only made as of the date of this press release, and ManTech
undertakes no obligation to publicly update any of the
forward-looking statements made herein, whether as a result of new
information, subsequent events or circumstances, changes in
expectations or otherwise.
ManTech-F
ManTech International Corporation
Investor Relations
Judy Bjornaas |
Stephen Vather |
Executive Vice
President and CFO |
Executive Director,
Corporate Development |
(703) 218-8269 |
(703) 218-6093 |
Investor.Relations@ManTech.com |
Stephen.Vather@ManTech.com |
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