FAIRFAX, Va., Oct. 27 (UPI) -- ManTech International Corp. of Virginia has signed a definitive agreement to acquire IT company Worldwide Information Network Systems Inc.
The acquisition will enable ManTech to deliver IT services through WINS' prime position on the Defense Intelligence Agency's Solutions for Information Technology Enterprises contract, an indefinite-delivery/indefinite-quantity contract vehicle with a $6.6 billion ceiling and period of performance through 2015.
WINS specializes in network and infrastructure engineering, enterprise architecture, cybersecurity and systems development, software development and integration and end-user workspace management.
ManTech is acquiring the company for $90 million in cash and expects the acquisition to be accretive to its earnings in 2012.
WINS, with headquarters in Seabrook, Md., will become a part of ManTech's Mission, Cyber and Technology Solutions group.
"This acquisition is consistent with ManTech's long-term strategy to extend our presence in the defense and intelligence markets," said ManTech Chairman and Chief Executive Officer George J. Pedersen.
"The addition of WINS' IT capabilities, prime position on the DIA SITE and other contracts will enhance our positioning with important customers and further our growth prospects."
The acquisition is subject to various closing conditions and approvals, including approval under the Hart-Scott-Rodino Act, and is expected to be completed in November.
