ManTech International Corporation (Nasdaq: MANT) has completed the acquisition of H2M Group (H2M), a provider of intelligence analysis services and solutions to primarily the National Geospatial-Intelligence Agency (NGA).
Headquartered in Manassas, Virginia, and founded in 2014, H2M offers a range of services that support the intelligence community (IC), including geospatial analysis, imagery and full motion video analysis, GEOINT operations and cartography. This acquisition strengthens ManTech’s ability to help key government agencies implement new automation techniques that enable intelligence analysts to more effectively navigate large amounts of data, and to distill the critical information that informs actionable intelligence necessary to make mission-critical decisions.
The acquisition also brings to ManTech approximately 180 highly skilled employees, most of whom are directly supporting intelligence missions. H2M will become part of ManTech's Mission, Cyber & Intelligence Solutions Group, led by President Rick Wagner.
ManTech funded the acquisition from cash on hand and its existing line of credit. The acquisition was structured such that ManTech will receive a step-up in the tax basis of the intangible assets acquired.