WT Business Beat

By Nick Wakeman

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Perspecta shareholders approve Peraton deal

Peraton’s acquisition of Perspecta moved one significant step closer to fruition Wednesday when Perspecta shareholders approved the $7.1 billion deal.

That’s the last significant hurdle for the deal, which is expected to close in the coming days.

With the backing of its owner Veritas Capital, Peraton has acquired Northrop Grumman’s IT business and now is on the verge of closing the Perspecta deal. The new Peraton will have $7 billion in annual revenue, 24,000 employees and a backlog of $24.4 billion.

Perspecta did not release a vote tally other than saying a majority of shareholders approved the transaction, which pays $29.35 per share in cash.

Last week, Peraton announced the executive team that will lead the company post close and it includes several Perspecta execs, including company chief financial officer John Kavanaugh, who will hold the same position with Peraton.

Posted by Nick Wakeman on May 05, 2021 at 2:02 PM

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