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Emerging Technologies Group acquired by ManTech

ManTech International : 21 August, 2008  (Company News)
ManTech buys into cyber security company to enter into counter terrorism market and counter intelligence
ManTech International has entered into a definitive agreement to acquire Emerging Technologies Group (ETG), a rapidly growing provider of cyber security and mission critical services to the Intelligence Community and DoD. The transaction is expected to be accretive to ManTech's earnings per share in 2008. Financial terms of the transaction were not disclosed.

Headquartered in Herndon, VA and founded in 2001, ETG is a privately held and highly-specialized company providing computer network operations and computer forensics. ETG delivers specific expertise in SIGINT and COMINT analysis supporting the counterterrorism/counterintelligence missions around the world. All of ETG's employees have high-level clearances. ManTech expects the company to generate 2009 revenues of approximately $20 million with solid operating margins.

"This acquisition adds further breadth to ManTech in the high-end intelligence arena and strengthens our position as a leader in cyber security," said George Pedersen, Chairman and CEO, ManTech International Corporation. "ETG is an exceptional company with a proven track record of strong growth, profitability, and excellence in customer service."

Robert Coleman, President and COO, ManTech International Corporation said, "The ETG acquisition adds depth to our cyber security operations and positions ManTech to capture additional work related to the Comprehensive National Cyber Initiative."

Tiffanny Gates, President and CEO, ETG said, "We have strategically grown our company around critical mission requirements of our Intelligence and DoD customer base. Combining with ManTech allows ETG to offer broader solutions to our national security client base. Just as important, our mission-focused cultures are aligned and ManTech will be able to offer expanded professional development opportunities for ETG employees."

The acquisition is subject to various closing conditions and approvals and is expected to be completed in the third quarter of 2008.
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