ManTech bags cyber security order for US Dept of Agriculture

ManTech International Corporation, is one of six companies awarded a blanket purchase agreement (BPA) from the US Department of Agriculture (USDA) to provide cyber security support. The BPA has a one-year base period, four one-year options and an initial ceiling value of $30 million for all six firms.

ManTech was also recently awarded its first two task orders under this BPA, a press release adds. The first, to provide a vulnerability assessment of several USDA applications, is valued at $41,000. The second is a four-year contract to provide computer forensic support to the Agriculture Security Operations Center valued at $1.3 million.

It will continue to compete to assist the USDA in implementing new cyber security measures to ensure the proactive protection and security of its networks, applications and hardware. These measures will include identifying security vulnerabilities, responding to attacks against agency resources and implementing corrective action accordingly.

"ManTech has been providing cyber security solutions to the Intelligence Community, DOD and other federal agencies for more than 17 years," said Larry Prior, President and COO, ManTech International Corporation.

Agencies

Tech Mahindra bags Satyam Computers sale bid

IT services provider Tech Mahindra is the new owner of Satyam Computer Services. The company bid the highest at Rs 58 per share,
pipping rivals engineering firm Larsen & Toubro and billionaire investor Wilbur Ross to the post.

Engineering firm L&T bid at Rs 45.90 per Satyam share, Kiran Karnik, chairman of the govt constituted Satyam board told reporters.

Karnik also said that the Cognizant-Wilbur Ross combine had put in their bid at Rs 20/share for the fraud hit IT co.

Tech Mahindra will have to pay Rs 1,757 crore to buy a 31% stake in Satyam Computer Services. The IT co will have a market cap of Rs 5,666 crore on expanded equity. Tech Mahindra will have to pay a total of Rs 2890 crore for 51% stake in Satyam.

The acquisition will help the company, an arm of the Mahindra & Mahindra Group, to diversify into new areas instead of just depending on the telecom sector.

The Satyam acquisition will help Tech Mahindra diversify its software services business, and compete aggressively with bigger rivals such as TCS, IBM, Infosys and Wipro.

Satyam, which serves customers such as GE, GM and Ford will also help Tech Mahindra build a better portfolio of customers.

Satyam has a 46,600 strong work force, land assets of 450 crore, besides the order book position. Its liabilities include the legal liabilities arising out of the class action suits filed by shareholders in the US, besides any liability arising out of the tussle with UK based mobile payments services provider Upaid.

Agencies