ManTech Buying Herndon-Based McDonald Bradley
ManTech International, a Fairfax-based government contractor that specializes in information technology services, said today it has agreed to acquire McDonald Bradley for $76.5 million in cash.
A privately held technology firm founded in 1985 and based in Herndon, McDonald Bradley does extensive national security work for the government, and counts the Defense Intelligence Agency as its largest single customer. Overall, the company draws 60 percent of its revenue from the defense and intelligence market. Forty-five percent of McDonald Bradley's 270 employees hold security clearances at Top Secret level or above.
ManTech, a publicly traded company with more than 7,000 employees, said in a statement the purchase would expand its presence in the defense, intelligence and homeland security communities. Its work already includes developing secure communications systems for the Department of Homeland Security and building and maintaining databases used to track terrorists. Last month, ManTech said its third-quarter revenue jumped 35 percent on strong demand for its services and from its acquisition of SRS Technologies, which closed in May.
The companies said they anticipate the deal will close by year's end. ManTech said in a statement that it expects the acquisition to add to its earnings starting next year.
"[McDonald Bradley] ..... deepens our capabilities in the high-end defense, intelligence and homeland security markets and expands our presence into new markets," said George J. Pedersen, chief executive of ManTech. "MBI is a great company that will help us provide expanded technology solutions to our national security customer base."
-- Mike Shepard
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