HERNDON, Va., Nov. 16 /PRNewswire/ -- McDonald Bradley, Inc., a
rapidly-growing secure information sharing and IT solutions provider to the
government marketplace, today announced that the Company has signed a
definitive agreement to be acquired by ManTech International Corporation
(NASDAQ: MANT) for $76.5 million in cash.
Of particular interest to ManTech is the Company's strong presence in
the Department of Defense, Intelligence Community and Homeland Security
markets. McDonald Bradley generates more than sixty percent of its revenue
from these federal agencies and counts the Defense Intelligence Agency
(DIA) as its largest customer. The Company is a prime contractor on the
Department of Homeland Security's EAGLE contract and expects to deliver
over $50 million in revenue in 2007, with strong operating margins and
solid growth prospects into 2008 and beyond.
In addition, the Company's technology expertise involving SOA
enterprise governance and implementations currently at work in various
civilian agencies represents a key area of IT focus for ManTech.
All McDonald Bradley staff and management will be retained.
"We are extremely excited to become part of ManTech as our corporate
cultures, business focus and customer bases have much in common," said Ken
Bartee, President and CEO. "After considering various strategic
alternatives, we felt that the timing, the opportunity and ManTech's track
record of strong operating performance opens a new horizon for the Company,
our employees and customers. ManTech's large public company status will
offer expanded professional development opportunities while its deep
resources will make it easier to expand our role with customers as together
we will drive the leading-edge technology solutions that support their
mission well into the future."
"McDonald Bradley is in line with our M&A strategy and deepens our
capabilities in the high-end defense, intelligence and homeland security
markets and expands our presence into new markets," said George J.
Pedersen, Chairman and CEO, ManTech International Corporation. "McDonald
Bradley is a great company that will help us provide expanded technology
solutions to our national security customer base."
Robert A. Coleman, President and COO, ManTech International Corporation
said, "The McDonald Bradley acquisition strengthens our position as a
leading provider of secure Information Sharing and Data Interoperability
solutions in the national security marketplace. We expect to see immediate
benefit of our combined capabilities in the Intelligence Community and
particularly the DIA where we have worked as a team supporting some of
their most important mission critical programs."
The acquisition is subject to various closing conditions and approvals,
including approval under the Hart-Scott-Rodino Act, and is expected to be
completed by the end of 2007.
BB&T/Windsor Group is serving as financial advisors to McDonald Bradley
in this transaction.
About McDonald Bradley
McDonald Bradley is a privately-held secure information sharing and IT
solutions provider headquartered in Herndon, Virginia. Since 1985, we have
built an exceptional reputation for delivering cost effective,
forward-thinking services and solutions to the defense, intelligence,
homeland security, and civilian agency communities. Our solutions portfolio
includes Service-Oriented Enterprise, Data Interoperability, Information
Assurance and Enterprise Management and Governance. We offer outstanding
project past performance and staffing depth at all clearance levels. Recent
accolades include GovCon's Contractor of the Year Award, recognition by
Deloitte & Touche as one of Virginia's 50 Fastest Growing Technology
Companies for 2006, and inclusion in the Washington Business Journal's 2007
list of the Largest Information Technology Employers.
SOURCE McDonald Bradley, Inc.