Fairfax City-based ManTech International Corporation (Nasdaq: MANT) has entered a definitive agreement to buy a Prince George's County-based IT cyber security firm for $90 million in cash.
Worldwide Information Network Systems, Inc.,specializes in cyber security and systems development, network and infrastructure engineering, enterprise architecture, software development and integration, and end-user workspace management.
The company with headquarters in Seabrook, is a prime participant in the Solutions for Information Technology Enterprises (SITE) contract from the Defense Intelligence Agency (DIA). It has a value of up to $.6.6 billion through 2015. The acquisition will allow ManTech International to extend its presence in defense and intelligence industries according to Chairman and Chief Executive Officer of ManTech, George J. Pedersen.
The purchase is expected to be completed in November 2011, and would add to ManTech's earnings in 2012.