Best Divestiture

Seller: Harris Corp.

Buyer: Veritas Capital

Business: Harris IT Services

Value: $690 million

Why: Harris wanted to jettison its IT business so it could focus on its electronics and more platform-centric work and Veritas Capital was happy to oblige. For $690 million, Veritas picked up about $1 billion in annual revenue. Within a few months, the business installed Stu Shea as CEO and adopted the name of “Peraton.” Shea is building an experienced management team and creating a distinct culture. Peraton has at the same time won large contracts, including a $578 million TSA logistics services deal.

Return to M&A Roundup.

Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.