Subsequent Event

12 Months Ended

Dec. 31, 2011

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

Management has evaluated subsequent events after the balance sheet date through the financial statements issuance date for appropriate accounting and disclosure.

Acquisition of Evolvent Technologies, Inc.

On January 6, 2012, we completed the acquisition of the equity interests of Evolvent Technologies, Inc. (Evolvent). The results of Evolvent's operations have been included in our consolidated financial statements since that date. The acquisition was completed through an equity purchase agreement dated January 6, 2012, by and among ManTech, shareholders and warrantholders of Evolvent and Prudent Management, LLC in its capacity as the sellers' representative.

Evolvent provides services in clinical IT, clinical business intelligence, imaging cyber security, behavioral health, tele-health, software development and system integration. Its systems and processes enable better decision-making at the point of care and full integration of medical information across different platforms. At January 6, 2012, Evolvent had 189 employees of which 26% held security clearances.

This acquisition will enable ManTech to deliver information technology solutions through Evolvent's existing relationships with Department of Defense Health organizations, the Veterans Administration and Department of Health and Human Services.

ManTech funded the acquisition with cash on hand. The preliminary purchase price was $40.0 million and may increase or decrease depending on the finalization of the post-closing working capital adjustment.

During 2011, ManTech incurred approximately $0.1 million of acquisition related costs. These costs are included in general and administrative expense in our consolidated statement of income for the year ended December 31, 2011.