Speaker News

Peraton Closes $3.4B Acquisition of Northrop Grumman’s IT, Mission Support Services Business


Peraton Closes $3.4B Acquisition of Northrop Grumman’s IT, Mission Support Services Business

Peraton, a portfolio company of private investment firm Veritas Capital, has acquired Northrop Grumman’s information technology and mission support services business for $3.4 billion.

The acquisition creates a government mission capability integrator and IT provider that offers technology-enabled services and support to a broad range of critical government missions.

Peraton’s chairman, president and chief executive officer, Stu Shea, a 2021 Wash100 winner, will be tasked with leading the combined company, Veritas Capital said.

In a statement, Shea said he looks forward to working with the employees from Northrop Grumman’s IT and mission support services business. He believes that together, the businesses will be able to provide services in support of the needs of customers across the Intelligence Community, Department of Defense, federal civil and health agencies, as well as state and local governments.

Veritas CEO and Managing Partner Ramzi Musallam, a 2021 Wash100 winner and past Potomac Officers Club event speaker, added that the acquisition marks the next phase of growth for Peraton.

The acquisition comes in the same week that Peraton announced plans to acquire Perspecta for $7.1 billion.  The two companies have already signed a definitive agreement, with the acquisition expected to be completed in the first half of the year.

Headquartered in Herndon, Virginia, Peraton provides differentiated space, intelligence, cyber, defense, homeland security, and communications capabilities to customers in the intelligence community, Department of Defense and the federal and commercial sector.

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Category: Speaker News