ManTech International Corp. (Nasdaq: MANT) has agreed to buy InfoZen Inc., an information technology and cloud service management provider for the federal government and municipal sector, for $180 million. The deal comes at a time when data security providers have become more essential due to the increasing amount of ransomware attacks, similar to Equifax’s (NYSE: EFX) recent data breach of approximately 143 million credit records.
Founded in 1995, InfoZen offers a variety of services for the domain space, including: cloud migration, cloud security, software development, systems engineering, and cloud management. The Bethesda, Maryland-based company also provides a suite of products used for analytics, dashboard monitoring and security management. InfoZen mainly serves customers in the federal civilian market, and also has business relationships with the Department of Homeland Security (DHS) and the National Aeronautics and Space Administration (NASA).
“This acquisition is consistent with ManTech’s long-term strategy to expand our presence in the federal civilian market and enhance our capabilities in IT modernization,” states ManTech CEO George Pedersen. “The combination will substantially increase ManTech’s already strong footprint at DHS, making it one of the largest providers of IT services across the department.” Morrison & Foerster is representing ManTech.
InfoZen will bring approximately 300 employees to ManTech and its Fairfax, Virginia-based headquarters. ManTech also provides technology for national security programs for the intelligence community. Founded in 1986, the buyer is known for its experience across cybersecurity, software development, multi-discipline intelligence, and communications.
In a time where data security is needed to protect everything from mobile devices to e-mails, strategic buyers are acquiring security providers from the middle-market. Honeywell International Inc. (NYSE: HON) purchased Nextnine; Open Text Corp. (Nasdaq: OTEX) bought Guidance Software Inc.; Zix Corp. (Nasdaq: ZIXI) acquired email encryption provider Entelligence Messaging Server; and Symantec Corp. (Nasdaq: SYMC) announced plans to buy Fireglass for undisclosed terms.