ManTech Acquires QinetiQ’s Security and Intelligence Solutions Business for $60M; George Pedersen Comments

ManTech (NASDAQ: MANT) has struck a deal to acquire the assets of QinetiQ North America’s Security and Intelligence Solutions (S&IS) business for $60 million.

S&IS holds a prime spot on the Missile Defense Agency Engineering and Support Services (MiDAESS) contract (Functional Group 6), a five-year indefinite delivery/indefinite quantity contract with a ceiling of $365 million.

The S&IS business will fall under ManTech’s Mission, Cyber and Technology Solutions group, led by L. William Varner.

“This acquisition is consistent with ManTech’s long-term strategy to continue extending our presence in the defense and intelligence markets,” said ManTech Chairman and CEO George J. Pedersen. “The addition of S&IS’s market-leading capabilities positions ManTech as a major integrated security provider, allowing us to offer comprehensive solutions for the full range of security threats – from physical through cyber. We see a solid pipeline of opportunities to provide full-scope security services to new and current ManTech customers.”

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