ManTech to acquire Sensor Technologies
- December 21, 2009
Fairfax-based ManTech International Corp. announced Monday that it will acquire Sensor Technologies Inc. for $242 million.
Sensor Technologies provides systems engineering and Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR), solutions for the U.S. Department of Defense. Its largest client is the U.S. Army and it is headquartered in Red Bank, N.J.
“This acquisition is consistent with our long-term strategy to broaden our footprint in the high-end defense and intelligence market,” said George J. Pedersen, chairman and CEO of ManTech said in a statement.
ManTech says Sensor Technologies should produce about $340 million in revenue in 2009 and $450 million in 2010.
The deal, subject to closing conditions and approvals, is expected to be completed in early 2010. ManTech will make the acquisition with cash on hand and by borrowing under its senior revolving credit facility.