Perspecta Inc.

Last updated
Perspecta Inc.
Industry Cybersecurity
Defense
Government Services
Founded2018
Defunct2021
Successor Peraton
Key people
Mac Curtis (President and CEO)
John Kavanaugh (CFO)
Tammy Heller (CHR)
Revenue$4.5 billion (2020)
Website perspecta.com   OOjs UI icon edit-ltr-progressive.svg

Perspecta Inc. was an American government services company based in Chantilly, Virginia. The company was acquired by Peraton in 2021.

Contents

History

Perspecta was formed in 2018 from the merger of DXC Technology's U.S. Public Sector spin-off with Vencore, Inc. and KeyPoint Government Solutions. [1] In June Veritas Capital became an investor in the company, acquiring a stake of 14.5%. [2]

In 2019, the company acquired Knight Point Systems for $250 million. In the same year, Perspecta won an $824 million contract with the National Geospatial Intelligence Agency and a $657 million extension on its IT services contract for the Navy. [2]

In February 2021, Perspecta announced that the company has received a potential five-year, $38 million contract award to continue supporting the Defense Manpower Data Center (DMDC) with a mission-critical program for contractor management for the Department of Defense (DOD). The company will also work to inform DOD decision makers about the status of personnel, training and security related to humanitarian and peacekeeping missions. Perspecta is planning to provide cloud migration, software development, quality assurance, 24/7 help desk support and training. [3] In the same year the company signed a contract with the U.S. Department of Defense, valued at $437 million. [4]

In May 2021, shareholders of Perspecta voted to adopt a merger agreement, receiving $29.35 per share. The company was acquired by Peraton, owned by Veritas Capital, for a total of $7.1 billion. [5] [6]

Corporate affairs

At the time of the company merger, Perspecta employed approximately 14,000 people and generated annual revenues of USD4.5 billion (2020). [6] [7] The company was led by CEO and President Mac Curtis, who didn't transfer to Peraton after the sale. [8] [2]

Related Research Articles

<span class="mw-page-title-main">Northrop Grumman</span> Aerospace and defense technology corporation

Northrop Grumman Corporation is an American multinational aerospace and defense technology company. With 95,000 employees and an annual revenue in excess of $30 billion, it is one of the world's largest weapons manufacturers and military technology providers. The firm ranks No. 101 on the 2022 Fortune 500 list of America's largest corporations.

<span class="mw-page-title-main">ManpowerGroup</span> American staffing company

ManpowerGroup is a Fortune 500 American multinational corporation headquartered in Milwaukee, Wisconsin. Founded in 1948 by Elmer Winter and Aaron Scheinfeld, ManpowerGroup is the third-largest staffing firm in the world behind Swiss firm Adecco and Dutch firm Randstad. The company provides administrative & support services, professional services, and business services through its four primary brands: Manpower, Experis, Right Management, and ManpowerGroup Solutions.

Houghton Mifflin Harcourt is an American publisher of textbooks, instructional technology materials, assessments, and reference works. The company is based in the Boston Financial District. It was formerly known as Houghton Mifflin Company, but it changed its name following the 2007 acquisition of Harcourt Publishing. Prior to March 2010, it was a subsidiary of Education Media and Publishing Group Limited, an Irish-owned holding company registered in the Cayman Islands and formerly known as Riverdeep. In 2022, it was acquired by Veritas Capital, a New York–based private-equity firm.

Stanley Black & Decker, Inc., formerly known as The Stanley Works, is a Fortune 500 American manufacturer of industrial tools and household hardware, and a provider of security products. Headquartered in the greater Hartford city of New Britain, Connecticut, Stanley Black & Decker is the result of the merger of The Stanley Works and Black & Decker on March 12, 2010.

Genworth Financial, headquartered in Richmond, Virginia, provides life insurance, long-term care insurance, mortgage insurance, and annuities.

Harris Corporation was an American technology company, defense contractor, and information technology services provider that produced wireless equipment, tactical radios, electronic systems, night vision equipment and both terrestrial and spaceborne antennas for use in the government, defense and commercial sectors. They specialized in surveillance solutions, microwave weaponry, and electronic warfare. In 2019, it merged with L3 Technologies to form L3Harris Technologies.

BAE Systems Platforms & Services is a wholly owned subsidiary of BAE Systems Inc. and is a large provider of tracked and wheeled armored combat vehicles, naval guns, naval ship repair and modernization, artillery and missile launching systems, advanced precision strike munitions and ordnance, and other technologies for U.S. and international customers.

<span class="mw-page-title-main">VF Corporation</span> American apparel company

VF Corporation is an American global apparel and footwear company founded in 1899 by John Barbey and headquartered in Denver, Colorado. The company's 13 brands are organized into three categories: Outdoor, Active and Work. In 2015, the company controlled 55% of the U.S. backpack market with the JanSport, Eastpak, Timberland, and The North Face brands.

<span class="mw-page-title-main">Perella Weinberg Partners</span> U.S.-based financial services firm

Perella Weinberg Partners L.P. is an American global financial services firm focused on investment banking advisory services.

<span class="mw-page-title-main">Thermo Fisher Scientific</span> Provisioner of scientific consumables, equipment, and services

Thermo Fisher Scientific Inc. is an American supplier of analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical and biotechnology services. Based in Waltham, Massachusetts, Thermo Fisher was formed through the merger of Thermo Electron and Fisher Scientific in 2006. Thermo Fisher Scientific has acquired other reagent, consumable, instrumentation, and service providers, including Life Technologies Corporation (2013), Alfa Aesar (2015), Affymetrix (2016), FEI Company (2016), BD Advanced Bioprocessing (2018), and PPD (2021).

ManTech International Corporation is an American defense contracting firm based in Herndon, Virginia. It was co-founded in 1968 by Franc Wertheimer and George J. Pedersen. The company uses technology to help government and industry clients. The company name "ManTech" is a portmanteau formed through the combination of "management" and "technology."

<span class="mw-page-title-main">Canaccord Genuity</span> Canadian financial company

Canaccord Genuity Group Inc. is a global, full-service investment banking and financial services company that specializes in wealth management and brokerage in capital markets. It is the largest independent investment dealer in Canada. The firm focuses on growth companies, with operations in 10 countries worldwide and the ability to list companies on 10 stock exchanges. Canaccord Genuity, the international capital markets division, is based in Canada, with offices in the US, the UK, France, Germany, Ireland, Hong Kong, China, Singapore, Dubai, Australia, and Barbados.

3G Capital is a Brazilian global investment firm and private partnership built on an owner-operator approach to investing over a long-term horizon. Founded in 2004, 3G Capital evolved from the Brazilian investment office of Jorge Paulo Lemann, Carlos Alberto Sicupira, and Marcel Herrmann Telles. 3G Capital is led by Alex Behring, Co-Founder and Co-Managing Partner, and Daniel Schwartz, Co-Managing Partner.

Vencore, Inc. was a private defense contractor that serves the U.S. Intelligence Community, Department of Defense and other agencies. From 2010 to 2014, the company was named The SI Organization, Inc.. The SI provided full life cycle, mission-focused systems engineering and integration capabilities, according to its corporate website. Major locations include Chantilly (VA), Basking Ridge (NJ), Denver (CO), Laurel (MD), Los Angeles (CA), Red Bank (NJ), St. Louis (MO), and Valley Forge (PA). The company employed approximately 2,000 people. It is now part of Peraton.

<span class="mw-page-title-main">Syneos Health</span> Contract research organization

Syneos Health is an American provider of contract research and commercial services to pharmaceutical and biotechnology companies. Based in Morrisville, North Carolina, the company specializes in helping other companies with late-stage clinical trials, but also provides commercial services to market health treatments. Syneos Health was formed from the merger of InVentiv Health and INC Research, each formed from the consolidation of several companies in the contract research industry.

Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. The company is the maker of Botox.

Veritas Technologies LLC. is an American international data management company headquartered in Santa Clara, California. The company has its origins in Tolerant Systems, founded in 1983 and later renamed Veritas Software. It specializes in storage management software including the first commercial journaling file system, VxFS, VxVM, VCS, the personal/small office backup software Backup Exec and the enterprise backup software, NetBackup. Veritas Record Now was an early CD recording software.

Veritas Capital is a New York-based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The firm's first fund closed in 1998. They closed an eighth flagship fund in 2022; in all, Veritas has approximately $45 billion of assets under management. Veritas is led by Ramzi Musallam, the firm's Chief Executive Officer and Managing Partner.

Engility Holdings, Inc. was an American publicly traded company that provided engineering and logistics services to several United States Armed Forces and civilian agencies. The company based in Chantilly, Virginia was formed in 2012 as a spin-off of the services division of L3 Technologies. As of 2017, Engility reports an annual revenue of about $2 billion. On September 10, 2018, Science Applications International Corporation announced it was buying Engility for about $2.5 billion with the brand being retired.

Peraton Inc. is a privately held American national security and technology company formed in 2017. It is headquartered in Reston, Virginia. Its service areas include space, intelligence, cyber, defense, homeland security, citizen security, and health. The company's applied research organization, Peraton Labs, is sited in Basking Ridge, New Jersey.

References

  1. Terry, Robert J. (June 1, 2018). "Perspecta debuts on the New York Stock Exchange, unveils board of directors". American City Business Journals .
  2. 1 2 3 "Perspecta CEO Mac Curtis retiring; Peraton CEO Stu Shea taking reins". Virginia Business. 2021-02-12. Retrieved 2022-04-04.
  3. "Perspecta Receives $38M to Support Defense Manpower Data Center for DOD; Jeff Bohling Quoted". www.executivegov.com. 2021-02-24. Retrieved 2021-03-11.
  4. "Perspecta, now under Peraton, lands $473.8 million agreement". Virginia Business. 2021-05-18. Retrieved 2022-04-04.
  5. "Veritas Capital Completes Acquisition of Perspecta" (Press release). PR Newswire. May 6, 2021.
  6. 1 2 "UPDATED: Peraton completes $7.1B Perspecta acquisition". Virginia Business. 2021-05-06. Retrieved 2022-04-04.
  7. "Perspecta Inc. acquired by Peraton". www.securityinfowatch.com. 9 February 2021. Retrieved 2021-02-19.
  8. "Veritas closes its acquisition of Perspecta". www.bizjournals.com. Retrieved 2022-04-04.