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Herndon’s ManTech to be acquired by Carlyle Group for $4.2 billion

By Jeff Clabaugh

Herndon, Virginia-based ManTech International has agreed to be acquired by D.C.-based The Carlyle Group.

The all-cash acquisition is valued at $4.2. billion.

ManTech’s information technology and technical services focus on national defense programs for the intelligence community and Department of Defense, primarily analytics and cybersecurity. It had 2021 revenue of $2.6 billion, and has about 9,000 employees.

ManTech CEO Kevin Phillips. (Courtesy ManTech International)

The acquisition, valued at $96 per share, is a 17% premium over ManTech stock’s closing price on May 13.

“This announcement is an important milestone for ManTech and a testament to our growth and the leadership position we have built since our founding by George Pedersen more than 50 years ago,” said ManTech Chairman and Chief Executive Kevin Phillips.

Pedersen, who cofounded the company in 1968, announced in February he would step down as chairman emeritus and member of the board.

ManTech International’s board of directors unanimously approved the acquisition. It still needs shareholder and regulatory approval and is expected to close in the second half of 2022.

Carlyle has $325 billion in total assets under management.

Massachusetts court hears arguments in lawsuit alleging Meta designed apps to be addictive to kids

By The Associated Press
BOSTON (AP) — Massachusetts' highest court heard oral arguments Friday in the state's lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2023 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. “We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways,” said State Solicitor David Kravitz, adding that the state's claim has nothing to do the company's algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is “confident the evidence will show our longstanding commitment to supporting young people.” Its attorney, Mark Mosier, argued in court that the lawsuit “would impose liabilities for performing traditional publishing functions” and that its actions are protected by the First Amendment.
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