Veritas Capital Fund Management LLC may have just created the largest U.S. federal information technology contractor. In just two months, Veritas bought Northrop Grumman Corp.‘s IT services business for $3.4 billion and Perspecta Inc. for $7.1 billion, and now plans to merge them under Peraton Inc. The venture capital firm bought Peraton from L3Harris Technologies Inc. in 2017 for $690 million. Both deals are expected to close in the first half of 2021. The result is the metamorphosis of Peraton, the No. 45 IT contractor in fiscal 2020, into a company with a footprint more than 13 times larger and positioned to take over the top federal IT contractor spot in fiscal 2021.
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