FAIRFAX, Va., April 2 (UPI) -- California cybersecurity company HBGary Inc. has been acquired by ManTech International Corp., expanding ManTech's business portfolio.
The terms of the acquisition, announced Monday, weren't disclosed but ManTech said it used cash on hand to clinch the deal.
"The combination of ManTech and HBGary will create a broader cybersecurity solution capability for both our commercial and government customers," said L. William Varner, president and chief operating officer of ManTech's Mission, Cyber and Intelligence Solutions group.
"I am excited to welcome HBGary to my organization and look forward to expanding our opportunities in protecting cyberspace and developing new capabilities."
HBGary provides software for the detection of advanced persistent threats and targeted malware.
The transaction isn't expected to have a material impact on ManTech's financial results.
"We are pleased to complete the acquisition of HBGary and delighted to add its thought leaders to the ManTech family," said George J. Pedersen, ManTech chairman and chief executive officer. "Together, ManTech and HBGary will break new ground in the growing cyber security market."
