Fairfax-based ManTech International to acquire 7Delta Inc.
- April 30, 2014
Fairfax-based ManTech International Corp. plans to acquire 7Delta Inc., a technology management solutions company based in Columbia, Md.
Founded in 2005, 7Delta is a privately held company providing services such as applications and software development, program management, systems integration, information assurance and security architecture, primarily to health-care providers at the Department of Veterans Affairs.
Details of the deal were not announced.
"ManTech made a strategic commitment to the healthcare IT market, and upon completion of this acquisition, we will have strong capability and presence across the entire spectrum of federal health care, including the VA, [Department of Defense] and Health and Human Services," ManTech Chairman and CEO George J. Pedersen said in a statement. "As one of the largest health-care IT contractors for the VA, 7Delta is a perfect fit for ManTech.”
7Delta will become part of ManTech's Mission Solutions & Services Group.
ManTech said the deal will enable it to provide services through 7Delta's prime position on the VA's Transformation Twenty-One Total Technology program.
The T4 program is a 5-year contract awarded by the VA Technology Acquisition Center to help the VA transform its information technology programs.
7Delta has been awarded more T4 task orders than any other prime contractor.
The acquisition, which is subject to closing conditions and approvals, is expected to be completed in May.
ManTech will finance the deal primarily from cash on hand with additional funds from its existing line of credit.
The company expects 7Delta to be accretive to ManTech's earnings per share this year.