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TYSONS CORNER, VA, May 12, 2021 — John Kavanaugh, most recently chief financial officer at Perspecta, joined Peraton as CFO in a series of leadership appointments resulting from the combination of the two government contractors via a $7.1 billion all-cash transaction backed by private equity firm Veritas Capital, GovCon Wire reported April 30.
MoreVeritas Capital announced on Wednesday that it has finished fundraising for The Veritas Capital Vantage Fund, closing its hard cap with a total of $1.8 billion of committed capital. The Vantage Fund’s closing brings the company's total assets to approximately $28 billion.
MoreCubic Corporation announced on Wednesday it has accepted a proposal from Veritas Capital and Evergreen Coast Capital to increase the price per share of their pending acquisition of Cubic to $75.00 per share in cash. By accepting the proposal, Cubic has entered into an amended agreement with Veritas and Evergreen. The all-cash transaction will be valued at approximately $3 billion.Â
MoreRamzi Musallam, managing partner and CEO of Veritas Capital, has received a 2021 Wash100 Award for leading a large number of multi-billion dollar acquisitions to drive exponential growth for the company, Executive Mosaic announced on Tuesday. This marks the sixth consecutive year that Musallam has received the most prestigious award in all of government contracting (GovCon).
MoreCubic Corporation has entered into a definitive agreement with an affiliate of Veritas Capital, under which Veritas and Evergreen Coast Capital, an affiliate of Elliott Investment Management, will acquire Cubic for $70.00 per share in cash. The all-cash transaction is worth approximately $2.8 billion, including the assumption of debt.
MoreVeritas Capital has completed its $3.4 billion acquisition of Northrop Grumman’s IT and mission support services business. Veritas announced the multi-billion dollar transaction in December 2020, stating that the transaction will enable Veritas to establish a technology-enabled services platform that can deliver support to a wide range of critical government missions through its combination with Peraton. “The completion of this transaction brings together two dynamic businesses with complementary, mission-critical solutions and capabilities, creating an industry-leading platform with a shared commitment to customer success,†said Ramzi Musallam, chief executive officer and managing partner of Veritas, and 2020 Wash100 Award recipient.
MoreVeritas Capital has moved to acquire Perspecta for $7.1 billion and plans to combine the latter to its portfolio company Peraton to expand its position in the government technology market. Perspecta has entered into a definitive agreement for the all-cash transaction. "Perspecta will be well positioned to build on our momentum and continue executing on customer commitments as Perspecta delivers cyber, digital-transformation and mission-focused solutions,†said Mac Curtis, chairman and CEO of Perspecta and 2020 Wash100 Award recipient. Stu Shea, chairman, president and CEO of Peraton and 2020 Wash100 Award recipient said, "Together, we will create a top-tier, privately-owned government technology business with a focus on missions of consequence.â€
MoreSambaNova Systems has entered into a partnership agreement with the National Nuclear Security Administration to help two NNSA-sponsored laboratories integrate artificial intelligence platforms into the facilities' computing infrastructure.
MoreTYSONS CORNER, VA, August 18, 2020 — Perspecta (NYSE: PRSP) appointed 25-year intelligence community market veteran Damian DiPippa senior vice president and general manager of the company's intelligence group, GovCon Wire reported Aug. 3.
MoreScott Heefner, a licensed professional engineer with more than 35 years of federal and commercial market experience, has been named president of Tysons, Va.-based government services provider Allegheny Science & Technology.
MoreA Raytheon Technologies subsidiary is developing a novel coronavirus detection kit through the use of a tool originally designed to detect malicious threats in network traffic.
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