Veritas closes Pearson unit purchase
- By William Welsh
- Feb 15, 2007
The outsourcing provider Pearson Government Solutions is now operating as Vangent in the wake of its purchase by Veritas Capital Partners.
The acquisition, which was announced as a $600 million cash and stock deal in December, has been completed, Veritas Capital said.
Vangent will continue to offer services and solutions to national and local governments, education institutions and private-sector corporations and will retain its headquarters in Arlington, Va.
Vangent brings to Veritas Capital a strong record of client retention and a reputation for high-quality service, said Robert McKeon, Veritas Capital's founder and president.
"Together with Vangent's strong management team, we are committed to expanding its geographic presence as well as its client base in vertical, high-potential markets such as health care and business process outsourcing, McKeon said.
Veritas Capital of New York is a private equity investment firm that invests in companies specializing in outsourcing services to the government.
Vangent of Arlington, Va., has about 5,500 employees. Its federal government customers include the departments of Defense, Education, Health, Justice and Labor. It ranks No. 36
on Washington Technology's 2006 Top 100 list
of the largest federal IT contractors.
William Welsh is a freelance writer covering IT and defense technology.