Summer Myatt
ManTech International has entered into a definitive agreement to acquire Gryphon Technologies for $350 million in a move that aims to expand the former’s advanced digital engineering capabilities.
The Herndon, Virginia-based defense contractor said Monday it will add over 1,500 employees to its staff as part of the transaction, which involves purchase from AE Industrial Partners and is expected to be completed by the end of 2021.
Kevin Phillips, chairman, president and CEO of ManTech and a five-time Wash100 Award recipient, said, “This acquisition maps directly to our defense sector expansion strategy of leveraging transformational innovation to advance missions, modernize operations and safeguard military systems and personnel across the DoD landscape.”
Gryphon Technologies is a Washington, D.C.-based provider of cyber, cloud, predictive analytics and digital engineering services to defense agencies including the U.S. Navy, Air Force and Defense Advanced Research Projects Agency.
P.J. Braden, founder and CEO of Gryphon Technologies, said the acquisition will allow the company’s employees to leverage ManTech’s “advanced professional development and commitment to career enablement” and benefit from its five decades of service to the federal government.
The purchase will be funded from ManTech’s cash on hand as well as the company’s existing line of credit and delayed draw term loan facilities.
The deal follows ManTech’s acquisition of Tapestry Technologies in December 2020.
