Peraton bolsters space operations work with Solers acquisition
Peraton has made its second acquisition by acquiring Solers as the company builds out its space capabilities.
Solers provides a variety of software development and systems integration services that support space situational awareness, satellite ground systems and operations, cybersecurity engineering, and enterprise cloud-based solutions.
Terms of the acquisition were not disclosed nor was Solers revenue. But the company was a finalist for Greater Washington Contactor of the Year in the $75 million to $300 million revenue category. Solers is an employee-owned company. The transaction will close after customary regulatory reviews.
The deal pushes Peraton to over $1 billion in annual revenue. They are ranked No. 40 on the 2019 Washington Technology Top 100 with $679.7 million in prime contract obligations.
With the deal, Peraton is picking up a host of space-related costumers, including the Air Force Lifecycle Management Center, Air Force Research Lab, Space and Missile Systems Center, the National Oceanic & Atmospheric Administration, the Naval Research Lab and other intelligence community customers.
“The acquisition of Solers represents an important step in the execution of our growth strategy and serves as a true force multiplier for Peraton and our customers,” Stu Shea, company chairman, president and CEO said in a release.
The deal brings together space protection and ground operations technologies and “we will be able to significantly enhance our ability to execute on our customers’ critical missions,” he said.
Expanding its space capabilities is a core part of Peraton’s growth strategy as it targets growing space opportunities.
In May, the company named Robert Cardillo former director of the National Geospatial-Intelligence Agency to its advisory board.
Last year, the company acquired Strategic Resources International to bolster its communications infrastructure offerings.
With Solers, Peraton is adding capabilities such as cloud computing services, cybersecurity engineering, data engineering, satellite ground systems, and space situational awareness. In that last one, some of its solutions include identification and reacquisition of missing satellites, behavior tracking, monitoring and notification of satellite movements, automated object identification and tools for initial orbit determination and differential correction.
“Through our combination with Peraton – a company with whom we have many shared values – our customers will have access to some of the best people and technologies available to address their critical missions and our employees will benefit from greatly expanded growth opportunities as part of this new company,” said David Kellogg, president and CEO of Solers.
The investment bank KippsDeSanto acted as financial advisor to Solers. Macquarie Capital was Peraton’s advisor.
Peraton also is a platform company for Veritas Capital, which acquired the company in 2017 when Harris Corp. divested its IT services business.
Posted by Nick Wakeman on Jun 17, 2019 at 7:29 AM