01/27/2021 | Press release | Distributed by Public on 01/27/2021 16:00
WASHINGTON-Covington is advising Veritas Capital on the acquisition of Perspecta Inc. by Veritas portfolio company Peraton for $7.1 billion. The transaction is expected to close in the first half of 2021.
Following closing, Perspecta will be combined with Peraton, a trusted provider of highly differentiated space, intelligence, cyber, defense, homeland security and communications capabilities to select federal agencies and commercial entities. The combination will create a leading government technology provider that delivers end-to-end capabilities in IT and mission support and serves as the strategic partner of choice across a diverse array of U.S. government customers.
Veritas is a longstanding investor in companies that provide critical products and services to government and commercial customers worldwide, including those operating in the government services, national security, software, education, aerospace and defense, healthcare, communications, and energy industries.
Covington is assisting Veritas on government contracts and other regulatory aspects of the tranacation. The Covington team advising Veritas is led by partner Scott Freling and special counsel Nooree Lee. The team also includes Brooke Stanley, Andrew Guy, Carl Wiersum, and Alex Thomson (government contracts); Stephen Bartenstein, Blake Hulnick, and Caroline Garth (trade controls); Heather Finstuen and Charles Buker (national security); Trisha Anderson and B.J. Altvater (cybersecurity); Don Ridings and Ben Kramer (anticorruption); and Zachary Parks, Matt Shapanka, and Elizabeth Upton (political law).