ManTech completes $34 million acquisition of Welkin Associates
Fairfax-based ManTech International Corp. has completed its $34 million acquisition of Welkin Associates Ltd.
ManTech expects the deal to be accretive to its earnings per share in 2015.
Founded in 1988 and based in Chantilly, Welkin formerly was a subsidiary of CSC. Welkin specializes in high-end systems engineering and advanced national security technology and business services.
ManTech said the acquisition positions it to pursue large engineering and support contracts in the intelligence community and Department of Defense.
Welkin will become part of ManTech's Mission, Cyber & Intelligence Solutions Group, led by L. William Varner.
ManTech will fund the acquisition from cash on hand.