National security federal contractor, ManTech International Corporation (NASDAQ: MANT) reported that it has completed the acquisition of Seabrook, MD-based Worldwide Information Network Systems for $90 Million in cash.
The announcement for Mantech to purchase the Prince George's County global information technology firm was made less than a month ago on October 27, 2011.
Worldwide Information Network Systems will be absorbed into ManTech's Mission, Cyber and Technology Solutions group. Mantech noted a main reason for the acquisition was because of the company's prime position on the Defense Intelligence Agency's (DIA) Solutions for Information Technology Enterprises (SITE) contract, worth $6.6 billion through 2015.
Mr. George J. Pedersen, ManTech Chairman and Chief Executive Officer, stated, “We are extremely pleased to be able to complete the acquisition of WINS so quickly and begin incorporating WINS and its extraordinary people into the ManTech family. WINS is a great fit for our strategy of broadening our reach in the growing areas of national-security technology, such as cyber security and systems integration.”