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Latest Federal & Government Contracting Companies' News Coverage
Cubic 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.
Peraton has aligned the company around four business sectors and appointed new executives to its leadership team, following its $3.4 billion acquisition of Northrop Grumman's integrated mission support and IT solutions business, the company reported on Thursday. "As Peraton expands we will be faced with a complex range of new opportunities and challenges across our functions and businesses,†said Stu Shea, chairman, president and CEO of Peraton and 2021 Wash100 Award recipient.Â
Veritas 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.
AE Industrial Partners has acquired UAV Factory, a provider of tactical unmanned aerial vehicle and intelligence, surveillance, reconnaissance technology. With the purchase, UAV Factory will serve as an unmanned technology platform for AEI. Terms of the transaction were not disclosed. "UAV Factory's engineering and technical capabilities, combined with its proven and growing set of technology solutions, are truly differentiated in the market," said Jeffrey Hart, principal at AEI.
Veritas 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€
TYSONS CORNER, VA, January 22, 2021 — Roger Krone, chairman and CEO of Leidos (NYSE: LDOS), said the company would incorporate managed services and cloud computing approaches acquired through its purchase of 1901 Group to support customers' digital modernization goals, ExecutiveBiz reported Jan. 15.
TYSONS CORNER, VA, January 19, 2021 — Sean Berg, most recently a senior vice president at Forcepoint, was promoted as president of global governments and critical infrastructure when investment firm Francisco Partners completed its acquisition of the cybersecurity venture from Raytheon Technologies (NYSE: RTX) last week, GovCon Wire reported Jan. 12.
Booz Allen Hamilton has invested in Tracepoint, a digital forensics and incident response services provider, as both companies aim to help public and private sector clients address cybersecurity threats. Booz Allen said Friday the strategic investment seeks to complement the company's portfolio of cybersecurity offerings for enterprise, defense and federal civilian organizations.
A Teledyne Technologies business has unveiled two new ruggedized gallium nitride, high electron mobility transistors designed for high-reliability space, avionics and military applications. The 30-amp TDG650E30B and 15-amp TDG650E15B GaN HEMTs are the latest additions to Teledyne e2v HiRel’s family of 650-volt products based on GaN Systems’ technology.
TYSONS CORNER, VA, January 5, 2021 — Vectrus (NYSE: VEC) has moved to expand its client base across defense, intelligence and foreign military sales programs through an estimated $112M deal for Herndon, Virginia-based government services provider Zenetex, GovCon Wire reported Dec. 29.
Vectrus has acquired HHB Systems, a provider of services for facilities management, logistics, engineering, enterprise operations, and of asset management products that support the Intelligence Community (IC). "The acquisition of HHB brings integrated solutions that support physical and digital infrastructures within the intelligence community and creates a stronger platform from which we can deliver fully converged solutions across all our clients' missions," said Sue Deagle, senior vice president and chief growth officer of Vectrus.Â
TYSONS CORNER, VA, January 4, 2021 — Blue Canyon Technologies became part of Raytheon Technologies' (NYSE: RTX) intelligence and space unit after the latter company finalized its acquisition of the Boulder, Colorado-based satellite and spacecraft components maker, GovCon Wire reported Dec. 22.
