ManTech International (Nasdaq: MANT) has acquired analysis services provider H2M Group for an undiscosed sum in a move to expand work with the geospatial and intelligence communities.
Herndon, Va.-based ManTech said Thursday it used cash on hand and funds under an existing credit line to finance the transaction and it will get a "step-up in the tax basis" for H2M's intagible assets.
H2M will operate under the mission, cyber and intelligence solutions business led by Rick Wagner, a 2019 Wash100 Award recipient.
Kevin Phillips, president and CEO of ManTech and also a 2019 Wash100 winner, said the company seeks to help customers transform geospatial, intelligence and business operations with mission-focused technology platforms and services.
ManTech noted the acquisition will increase its ability to offer new automation approaches for government analysts to gain actionable insights from huge volumes of data.