Veritas-backed Peraton to buy IT services firm Perspecta in $7.1 billion deal

  • 1/27/2021
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(Reuters) - Perspecta Inc, a provider of IT services to government customers, has agreed to a $7.1 billion takeover over from Peraton, a defense contractor owned by private-equity firm Veritas Capital. Shares of Perspecta surged nearly 10% to $28.76 in early trading and were trading slightly below the offer price of $29.35 per share. The offer is at a premium of nearly 50% since a Bloomberg report in early November about the company weighing strategic options including sale. Peraton provides intelligence, cyber, defense, homeland security and communications services to select federal agencies and commercial entities. Veritas, which has focused on the government technology market, owns about 14.5% of Perspecta’s outstanding shares. The transaction, which has been approved by Perspecta’s board, is expected to close in the first half of 2021. Goldman Sachs and Stone Key Partners LLC are serving as financial co-advisers to Perspecta on the deal.

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