ManTech to Acquire QinetiQ Security and Intelligence Solutions Unit for $60M

ManTech International Corporation MANT announced today that it has signed a definitive agreement to acquire the assets of QinetiQ North America's Security and Intelligence Solutions (S&IS) business for $60 million in cash. ManTech will fund the acquisition from cash on hand. The transaction is subject to certain closing conditions, is expected to be completed shortly and be accretive to ManTech's earnings per share in 2011.