Author: Jane Edwards|| Date Published: October 3, 2017
Kevin Phillips
ManTech International (Nasdaq: MANT) has wrapped up its $180 million cash acquisition of Bethesda, Maryland-based information technology platforms provider InfoZen.
ManTech said Monday it will run InfoZen as part of its mission solutions and services group headed by Daniel Keefe and expects the IT services contractor to contribute approximately $25 million to fiscal 2017 revenue.
Kevin Phillips, president and chief operating officer at ManTech and an inductee into Executive Mosaic™s Wash100 for 2017, said the company is pleased to finalize the transaction and welcome InfoZen employees into ManTech.
Herndon, Virginia-based ManTech completed the transaction less than a month after it agreed to buy InfoZen as part efforts to expand its managed cloud services and IT modernization offerings for the federal civilian market.
ManTech used its cash on hand and existing credit line to fund the acquisition.
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