This Is IT: Peraton Eyes Top Federal IT Spot with Perspecta Buy

Bloomberg Government

February 2, 2021

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.

Read the full story