ManTech International To Acquire 7Delta

(RTTNews) - ManTech International Corp. (MANT) said that it has signed a definitive agreement to acquire 7Delta Inc., a progressive company providing leading edge technology management solutions to the civilian and defense sectors of the U.S. government.

Headquartered in Columbia, Maryland, and founded in 2005, 7Delta is a privately held company performing critical services such as applications and software development, program management, systems integration, information assurance, and security architecture primarily within the healthcare community at the Department of Veterans Affairs (VA). 7Delta will become part of ManTech's Mission Solutions & Services Group, led by Daniel J. Keefe.

The acquisition will enable ManTech to deliver services through 7Delta's prime position on the VA's Transformation Twenty-One Total Technology (T4) program. The T4 program is a 5-year indefinite delivery, indefinite quantity (IDIQ) contract awarded by the VA Technology Acquisition Center (TAC) to help the VA transform its information technology (IT) programs. 7Delta has been awarded more T4 task orders than any other T4 prime contractor.

The acquisition is subject to certain closing conditions and approvals and is expected to be completed in May 2014. ManTech will fund the acquisition primarily from cash on hand with additional funding from its existing line of credit. The company expects 7Delta to contribute solid growth and operating margins and be accretive to ManTech's earnings per share in 2014.