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Mantech (MANT) Receives Advisory Contract From Combating Terrorism Technical Support Office

 January 18, 2013 12:23 PM
 


(By Balaseshan) Mantech International Corp. (NASDAQ: MANT), which provides technologies for national security programs, said it has received a contract to provide scientific, engineering, technical, and administrative support to the Combating Terrorism Technical Support Office (CTTSO).

The cost-plus-fixed fee contract, with a potential value to ManTech of $33.5 million, has a one-year base period and two one-year options, the company noted.

Under the contract, ManTech will continue to provide the CTTSO and its subordinate offices with Advisory and Assistance Services (A&AS) and Systems Engineering and Technical Assistance (SETA) services.

[Related -Mantech International (MANT) Closes Purchase Of ALTA Systems]

On January 9, the company said it has closed the purchase of ALTA Systems Inc., which provides IT and professional services to government and private industry, 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.

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.

MANT is trading down 0.99% at $26 on Friday. The stock has been trading between $19.74 and $37.16 for the past 52 weeks.

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