ManTech International Corporation (NASDAQ:MANT) has completed the acquisition of ALTA Systems, Inc. of Fairfax, Va., an Information Technology (IT) and professional services company with valuable applications in healthcare systems and capital planning.
ALTA provides a broad range of IT and professional services to government and private industry in three major practice areas: capital planning and investment control; system design, development and operation; and fraud detection and statistical analysis.
The acquisition will enable ManTech to deliver technology services through ALTA’s prime position on the Centers for Medicare and Medicaid Services (CMS) Enterprise Systems Development (ESD) contract, an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract vehicle with a $4 billion ceiling and period of performance through May 2018.
“This acquisition is consistent with our strategy to steadily expand our service offering in the growing healthcare market,” said ManTech Chairman and Chief Executive Officer George J. Pedersen. “ManTech will continue to pursue acquisition opportunities that help us drive organic growth and support our customers’ critical missions. The Patient Protection and Affordable Care Act (PPACA) will require significant investment in IT systems and processes. With the acquisition of ALTA, ManTech is better positioned to help government programs and healthcare providers meet their responsibilities to provide efficient and comprehensive health care.” ALTA will become part of ManTech’s existing health care business.ALTA CEO Cindy Perlberg added, "We are proud to become part of a company like ManTech, which has such a strong record and trusted name in IT. Our customers will benefit from the broader service offering of the combined company and our employees will benefit from expanded professional development opportunities.” ManTech used available cash to finance the acquisition. It does not expect the transaction to have a material impact on its 2013 financial results. About ManTech International Corporation ManTech is a leading provider of innovative technologies and solutions for mission-critical national security programs for the intelligence community; the Department of Defense, including its health organizations; the departments of State, Homeland Security, Energy and Justice, including the Federal Bureau of Investigation (FBI); the space community; and other U.S. federal government customers. We provide support to critical national security programs for approximately 60 federal agencies through approximately 1,000 current contracts. ManTech's expertise includes command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) lifecycle support; cyber security; global logistics support; intelligence/counter-intelligence support; information technology (IT) modernization and sustainment; systems engineering; test and evaluation; and health IT. ManTech supports major national missions, such as military readiness, terrorist threat detection, information security and border protection. Additional information on ManTech can be found at www.mantech.com. Forward-Looking Information Statements and assumptions made in this press release, which do not address historical facts, constitute “forward-looking” statements that ManTech believes to be within the definition in the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties, many of which are outside of our control. Words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” or “estimate,” or the negative of these terms or words of similar import are intended to identify forward-looking statements.