ManTech International (NASDAQ: MANT) has agreed to purchase Columbia, Md.-based technology management contractor 7Delta for an undisclosed sum that includes cash on hand and funding from ManTech’s existing line of credit.
Fairfax, Va-based ManTech expects to close the transaction in May and anticipates the deal to increase its earnings per share in 2014, the company said Wednesday.
George Pedersen, ManTech chairman and CEO, said the company aims to expand its presence in the federal healthcare market through the acquisition and grow work with the departments of Defense, Health and Human Services and Veterans Affairs.
Pedersen called 7Delta one of the “largest healthcare IT contractors for the VA” and added the companies want to update and integrate electronic health systems for both DoD and the VA.
As part of the deal, ManTech will also acquire 7Delta’s position on the VA’s five-year Transformation Twenty-One Total Technology contract vehicle.
ManTech says 7Delta has won more task orders under T4 than any other prime contractor for that program.
7Delta develops applications and software for the VA’s healthcare community and also performs work in areas such as program management, systems integration and security architecture.
The company will join ManTech’s mission solutions and services group when the deal closes.