ManTech International (Nasdaq: MANT) has agreed to buy Bethesda, Maryland-based information technology platforms provider InfoZen through a $180 million cash transaction that would grow ManTech’s managed cloud services and information technology offerings for the federal civilian market.
The companies expect to close the deal in October, subject to approval under the Hart-Scott-Rodino Act and other customary closing conditions, ManTech said Monday.
Herndon, Virginia-based ManTech plans to use its cash on hand and additional funds from its existing credit line to fund the acquisition and absorb approximately 300 InfoZen employees.
ManTech also expects the transaction to be slightly accretive to its 2017 earnings per share.
Kevin Phillips, president and chief operating officer at ManTech and an inductee into Executive Mosaic’s Wash100 for 2017, said the merger would help ManTech build up its IT offerings and meet customers’ mission-critical requirements.
Founded in 1995, InfoZen works to provide services across the areas of IT modernization, cloud migration, agile/DevOps software development and threat assessment and monitoring capabilities in support of national security missions and federal civilian clients such as NASA and the Department of Homeland Security.