M&A: Veritas to acquire Northrop Grumman Federal IT and Mission Support Services Business for $3.4B – will combine with Peraton

“Veritas Capital (“Veritas”), a longstanding investor in companies operating at the intersection of technology and government, today announced that an affiliate of Veritas has signed a definitive agreement to acquire the federal IT and mission support services business of Northrop Grumman (NYSE: NOC) for $3.4 billion in cash…”

“The business provides a wide range of advanced technology solutions including cybersecurity, data analytics, cloud, mission-critical application development and advanced engineering to defense, intelligence, space, civil and health customers. The business expects to generate $2.3 billion in revenue in 2020…”

“At the close of the transaction, Veritas expects to combine the business with its portfolio company Peraton, a trusted provider of highly differentiated space, intelligence, cyber, defense, homeland security and communications capabilities to select federal agencies and commercial entities. The combination will create a leading government mission capability integrator and IT provider focused on delivering high-end technology-enabled services. Peraton Chairman, President & Chief Executive Officer Stu Shea will continue to lead the combined business.”

“We look forward to welcoming the federal IT and mission support services business’ experienced team to Peraton. With this addition, we will continue to position Peraton as an industry leader, applying the technology and mission understanding that will solve our customers’ most daunting challenges and mission needs,” said Stu Shea. “Our differentiated, complementary solutions and deep relationships with our respective customer bases give us the scale and resources to continue to address the evolving needs of government customers…”

“The transaction is expected to close in the first half of 2021. It is subject to customary closing conditions and regulatory approvals.”

Read the full press release here.

Source: Veritas Capital to Acquire the Federal IT and Mission Support Services Business of Northrop Grumman, December 7, 2020. Business Wire.

G2X TAKE: While this deal extends well beyond Federal Health, the news that these two consulting powerhouses will be joining forces will clearly be big news to firms in the Federal Health sector as Peraton, the former Harris Corporation Government Services business, which was acquired by Veritas Capital in 2017, greatly expands their presence in both the Federal civil and health marketplaces while continuing to add to their capabilities in the mission-critical IT domain.

Related Items

0
Tags:

This topic contains 2 replies, has 2 voices, and was last updated by  Anonymous 11 months, 4 weeks ago.

  • Author
    Posts
  • #81334
     Heather Seftel-Kirk
    • Writer
    • G2Xchange

    Replies viewable by members only

    0
  • #81391

    Replies viewable by members only

    0
  • #81437

    Replies viewable by members only

    +1

You must be logged in to reply to this topic.

CONTACT US

Questions?. Send us an email and we'll get back to you, asap.

* Required


©2021 MileMarker10, LLC all rights reserved | Community and Member Guidelines | Privacy Policy | About G2Xchange Health

Federal Government Employees Join Free

As a special thank you to all the federal agencies that have been supportive of our efforts over the years we offer a free individual membership to Federal Government employees.  Membership includes:


Full Access to the G2Xchange Health website, including exclusive member content.

Access to Forums, Comments, and Discussions

Member Directory

Private Messaging

The G2Xchange Health Daily Take Newsletter which includes the latest intelligence, news, and happenings from across the Federal Health IT Market.

Exclusive Discounts on G2Xchange Events and G2Xchange Partner Events.

Click Here to Join


THANK YOU
FOR YOUR
SUPPORT


Opportunities. Starting Points.

About our Data

The Vault is a listing of expiring contracts, task orders, etc. within a certain set of parameters, to include:

  • Have an initial total estimated contract value of $3 million or above
  • Federal Health Only – MHS/DHA, HHS, CMS, or VA Actions
  • NAICS codes include: 511210, 518210, 519130, 519190, 541511,
    541512, 
    541513, 541519, 541611, 541618, 541690, 541720, 541990
  • Were modified within the last 12 calendar months
  • The data represented is based on information provided by the Government

Who has access? Please note that once the Vault product is no longer in the Beta testing phase, ALL G2Xchange Health Members will receive access to all basic and much of the advanced data. G2Xchange Health Corporate Members will receive access to ALL Vault content (basic and advanced).

Feedback/Suggestions? Contact us at Vault@G2Xchange.com and let us know what you think. 

G2Xchange Health, a service of MileMarker10

Log in with your credentials
for G2Xchange Health

Forgot your details?