FAIRFAX, Va., 11 May 2007.ManTech International Corp. completed the acquisition of SRS Technologies Inc. (SRS), a provider of high-end, mission-critical, advanced technology systems engineering and command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) services and solutions.
SRS Technologies' largest customers include the Department of Homeland Security, the U.S. Air Force, the National Reconnaissance Office, the National Geospatial-Intelligence Agency, the Missile Defense Agency, and the Defense Advanced Research Projects Agency.
As detailed in its earnings press release from May 1, 2007, ManTech expects SRS to deliver $120 million in revenue for the remainder of 2007. Company executives expect SRS to contribute $27 million in revenue for the remainder of the second quarter.
The Company used cash available and $170 million in borrowings from its new senior secured $300 million credit facility to finance the acquisition.
