Schulte Roth & Zabel is advising a Veritas Capital portfolio company on a $7.1 billion deal to buy Perspecta Inc., which provides information technology services to public agencies.
Paul, Weiss is advising Chantilly, Va.-based Perspecta on the transaction, expected to close in 2021’s second half, according to a statement.
Schulte is advising both Veritas and its Herndon, Va.-based portfolio company, Peraton, which provides space, intelligence, cyber, defense, homeland security and communications capabilities to federal agencies and commercial businesses.
The combined company will provide IT support and serve as a partner for a range of U.S. government customers, the statement said. Perspecta has about 14,000 engineers, analysts, investigators and architects.
Veritas has invested in Perspecta and its predecessor companies for over a decade, drawn by its market differentiation, intellectual property, and focused execution in the government technology space, said Ramzi Musallam, Veritas’ CEO.
“Through the combination with Peraton, we have assembled a strong portfolio of top-tier government technology providers with complementary offerings,” Musallam said. “The addition of our resources and industry expertise will enable Perspecta to deliver even greater value to its customers and stakeholders.”