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Falling Colors Group Expands Leadership Team
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Falling Colors Group Expands Leadership Team
prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
By Ross Wilkers
Jan 27, 2021
The government IT and services market apparently wanted to get 2021 started with a true megadeal that involves one of the largest publicly-traded companies and a notable investor in that business.
Perspecta said Wednesday it has agreed to be acquired by private equity firm Veritas Capital for $7.1 billion in cash, or $29.35 per share. Veritas Capital already held 14.5 percent of Perspecta’s stock and earlier this month revealed that both parties had started some discussions about a potential transaction.
The deal is anticipated to close in the first half of this year. Perspecta s board of directors has approved the deal, which shareholders will get to vote on as well. But the story does not end there.
The challenge ahead for what becomes of Peraton-Perspecta-Northrop IT
I have no doubts or reservations about the abilities of the leaders of Perspecta and Peraton, but when I saw the news this morning and read Ross Wilkers’ story on their pending combination, the thought that kept running through my mind was Holy Smokes, that’s going to be a huge integration challenge.
In all honesty, Holy Smokes is the family friendly version of what I was thinking.
Veritas Capital was already buying Northrop Grumman’s IT services business and merging it into Peraton. Now Veritas is buying Perspecta, where it already was its largest shareholder at 14.5 percent, and merging that with Peraton.