Perspecta Inc. was an American government services company based in Chantilly,

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the East Coast of the United States, Atlantic Coast and the Appalachian Mountains. The geography an ...

. The company was acquired by

Peraton Peraton Inc. is a privately held American national security and technology company formed in 2017, with corporate headquarters in Reston, VA. Its areas of service include space, intelligence, cyber, defense, homeland security, citizen security, a ...

in 2021.

History

Perspecta was formed in 2018 from the merger of

DXC Technology DXC Technology is an American multinational information technology (IT) services and consulting company headquartered in Ashburn, Virginia. History DXC Technology was founded on April 3, 2017 when the Hewlett Packard Enterprise Company (HP ...

's U.S. Public Sector spin-off with

Vencore, Inc. 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). The SI provided full life cycle, m ...

and KeyPoint Government Solutions. In June Veritas Capital became an investor in the company, acquiring a stake of 14.5%. 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 The National Geospatial-Intelligence Agency (NGA) is a combat support agency within the United States Department of Defense whose primary mission is collecting, analyzing, and distributing geospatial intelligence (GEOINT) in support of nation ...

and a $657 million extension on its IT services contract for the

Navy A navy, naval force, or maritime force is the branch of a nation's armed forces principally designated for naval and amphibious warfare; namely, lake-borne, riverine, littoral, or ocean-borne combat operations and related functions. It include ...

. 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. In the same year the company signed a contract with the

U.S. Department of Defense The United States Department of Defense (DoD, USDOD or DOD) is an executive branch department of the federal government charged with coordinating and supervising all agencies and functions of the government directly related to national secu ...

, valued at $437 million. 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 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 ...

, for a total of $7.1 billion.

Corporate affairs

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

References

2021 mergers and acquisitions American companies established in 2018 Companies formerly listed on the New York Stock Exchange {{tech-company-stub