George Pedersen: ManTech Targets DHS Growth With Allied Technology Group Purchase

George Pedersen
George Pedersen

ManTech International (NASDAQ: MANT) has acquired engineering and information management services contractor Allied Technology Group for an undisclosed amount.

Rockville, Md-based Allied Technology holds positions on two Department of Homeland Security acquisition vehicles that are worth up to $33 billion combined for all awardees, ManTech said Wednesday.

“This acquisition is consistent with ManTech’s long-term strategy to extend our presence in growth markets. DHS represents a large and fast growing budget, ” said George Pedersen, ManTech chairman and CEO.

ManTech will use cash on hand to finance the transaction and expects the deal to increase its earnings per share for fiscal year 2014.

Allied Technology will join ManTech’s mission solutions and services group, which is led by Daniel Keefe.

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