logo
  Join        Login             Stock Quote

Mantech International (MANT) Closes Purchase Of ALTA Systems

 January 09, 2013 02:06 PM
 


(By Balaseshan) Mantech International Corp. (NASDAQ: MANT), which provides technologies and solutions for national security programs, said it has closed the acquisition of ALTA Systems Inc. of Fairfax, Virginia.

ManTech used available cash to finance the acquisition. It does not expect the transaction to have a material impact on its 2013 financial results. ALTA will become part of ManTech's existing health care business. The acquisition builds ManTech's presence in the healthcare IT market.

ALTA provides a broad range of Information Technology (IT) and professional services to government and private industry in three major practice areas: capital planning and investment control; system design, development and operation; and fraud detection and statistical analysis.

[Related -Mantech (MANT) Receives Advisory Contract From Combating Terrorism Technical Support Office]

The acquisition will enable ManTech to deliver technology services through ALTA's prime position on the Centers for Medicare and Medicaid Services (CMS) Enterprise Systems Development (ESD) contract, an Indefinite Delivery/Indefinite Quantity (ID/IQ) contract vehicle with a $4 billion ceiling and period of performance through May 2018.

"ManTech will continue to pursue acquisition opportunities that help us drive organic growth and support our customers' critical missions. The Patient Protection and Affordable Care Act (PPACA) will require significant investment in IT systems and processes," said George Pedersen, Chairman and Chief Executive Officer of ManTech.

[Related -Mantech (MANT) JV Receives Contract to Support Marine Corps Warfighting Laboratory]

With the acquisition of ALTA, ManTech is better positioned to help government programs and healthcare providers meet their responsibilities to provide efficient and comprehensive health care, the company noted.

MANT is trading up 0.53% at $26.67 on Wednesday. The stock has been trading between $19.74 and $37.16 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageDeath Cross More Of A Buy Signal?

With the recent weakness in the equity markets, many stocks' and stock indices' chart patterns have traced read on...

article imageKey Price Planning Levels Updated for Chipotle

After a huge price surge from $600 to $760, Chipotle (CMG) shares retraced to a critical “Make or Break” read on...

article imageChina Growth and Market Structural Integrity Top List of Fear Poll Concerns

After a hiatus of almost a year (the October 2014 pullback, to be exact), I have reprised the VIX and More read on...

article imageIs The Treasury Market Still Expecting Moderate US Growth?

The roller-coaster ride in global markets in recent weeks has raised new doubts about economic growth in read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.