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    Home»Deals & Transactions»Defence deals snapshot: Veritas acquires Northrop Grumman IT business
    Deals & Transactions

    Defence deals snapshot: Veritas acquires Northrop Grumman IT business

    February 11, 20211 Min Read
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    In the week 31 January to 6 February two aerospace, defence and security acquisitions took place seeing Veritas Capital acquire Northrop Grumman’s IT and Mission Support Services Business for $3.4bn.

    Deals in the week were down a third compared with 2020. The divestiture of Northrop Grumman’s IT services business, reported by Army Technology last week, will see it combine with Peraton a provider of intelligence and communications services to US federal agencies. The combined business will operate under the Peraton name.

    Peraton chairman, president and CEO Stu Shea said: “With the successful completion of this transformational acquisition, we’re excited to welcome the many talented employees from Northrop Grumman’s integrated mission support and IT solutions business to the Peraton family.

    “Together we will position Peraton to deliver an unrivalled range of trusted technology capabilities and solutions to support customers’ missions of consequence across the intelligence community, department of defence, federal civil and health agencies, and state and local governments.”

    Read more

    Source: Army Tecnology

    By: Harry Lye

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    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Acquisitions deals Information Technology PE Insider Private Equity
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