ManTech buys GRS Solutions
- By David Hubler
- Oct 06, 2006
ManTech International, a provider of innovative technologies and solutions to the intelligence and military communities and other federal agencies, has completed the acquisition of GRS Solutions, a provider of specialized technical, operational and analytical services to the intelligence community.
According to an announcement today, ManTech will acquire all outstanding shares of GRS and the transaction is expected to be immediately accretive to ManTech’s earnings per share.
Financial terms were not disclosed.
Founded in 1998, GRS is a privately held and highly specialized company in Falls Church, Va. It provides innovative analysis, technical management, program development and program implementation services in support of U.S. global counterterrorism and counterintelligence missions.
More than 90 percent of GRS’ employees have high-level security clearances.
The company generated annual revenues in excess of $10 million with robust operating margins for fiscal 2006, which ended Sept. 30, according to the ManTech statement.
“This acquisition adds further breadth to ManTech in the high-end intelligence arena and strengthens our position as a national security pure-play,” said George Pedersen, ManTech's chairman and chief executive officer. “GRS is an exceptional company with a proven track record of strong growth, profitability, and excellence in customer service.”
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.