Did Board Room Ties Help ManTech Win Homeland Security Contract?

(NewsVisual, powered by IntellectSpace) -- In an after-the-bell press release on Thursday, ManTech International Corporation (Nasdaq: MANT) announced that the Department of Homeland Security (DHS) awarded the former’s wholly-owned subsidiary ManTech MBI Inc a $9.7 million contract.

The contract stipulates that ManTech MBI will provide IT services the DHS Science and Technology Directorate.

Those IT services to the DHS will include IT security compliance services, IT security architecture services, and IT security independent verification and validation (IV&V), said ManTech in its statement.

“We are proud to land this first EAGLE project as a prime contractor with DHS and to have the opportunity to provide our highly-regarded IV&V and information assurance services,” said ManTech MBI President Kenneth Bartee in the statement.

He added:

“Our many years of expertise in delivering similar services at other agencies coupled with the ability to provide highly qualified personnel were key factors in our selection. We are excited to begin a long business relationship with the Department of Homeland Security and, particularly, the Science and Technology Directorate.”

On Wednesday before ManTech made its announcement, the company’s share value was down from the previous close of $43.82 to $43.17 at the bell (4:00pm ET).

To gain some insight on how the company became so well positioned in the defense and security sectors of the economy, NewsVisual created an IntellectSpace Knowledge Map to show who’s on ManTech’s Board of Directors and to illustrate their ties to the defense establishment, as well as their other business connections.

The Knowledge Map reveals that several of the Directors have strong defense industry ties. 

The most notable personage among them, though, is Director Richard L. Armitage, who has had an illustrious career in the U.S. Government, including as an Ambassador and as a Deputy Secretary of State, and who is currently also on the board of ConocoPhillips.

 
Chairman Pedersen appears, however, to be more closely tied into the defense industry, since he serves on the board of the National Defense Industrial Association as well as on the boards of technology companies with defense applications, including Scientific Research, Inc and GSE Systems, Inc.

Director David E. Jeremiah is a retired Admiral and a former Vice Chairman of the Joint Chiefs of Staff.  It’s also noteworthy that Director Jeremiah is the current Chairman of the Technology Strategies and Alliances Corp, which is engaged in the defense and aerospace industries.

Likewise, Director Kenneth A. Minihan is a retired Air Force Lt. General, as well as on the Board of Directors of several defense/security-related companies, including BAE Systems, MTC Technologies Inc, Verint Systems Inc and Lucent Government Solutions.

It seems probable that these Directors’ strong connections to the defense establishment will continue to offer ManTech a competitive edge for winning future defense/security-related contracts.

Click here for an interactive version of this IntellectSpace Knowledge Map.

(Note: the information contained and presented in Knowledge Maps is public information from the Securities and Exchange Commission of the United States of America).