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Press release content from PR Newswire. The AP news staff was not involved in its creation.
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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Peraton Divests Systems Engineering, Integration, and Support Services Business

September 30, 2021 GMT
(PRNewsfoto/Peraton)
(PRNewsfoto/Peraton)
(PRNewsfoto/Peraton)

CHANTILLY, Va., Sept. 30, 2021 /PRNewswire/ -- Peraton Corp. (“Peraton”) today completed the sale of its systems engineering, integration, and support services business, including the Peraton assets and subsidiaries that relate to this business (collectively, the “SES Business”), to CTFV Acquisition Corp. (“CTFV”), a portfolio company of The Veritas Capital Vantage Fund, L.P. (the “Vantage Fund”).

As a result of today’s sale, the SES Business will operate as an independent, stand-alone company continuing to provide critical systems engineering, integration, and support services. The separation of the SES Business and Peraton enables each company to independently focus its core capabilities to meet the mission needs of its respective defense and intelligence community customers.

The SES Business will be led by Damian DiPippa, who was previously president of Peraton’s Systems Engineering sector. The SES Business will re-brand itself under a new corporate name and identity.

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The Vantage Fund is a Veritas Capital investment fund that independently invests in middle market companies, including those that provide critical products and services to government and other customers.

Jefferies LLC served as financial advisor to Peraton. Milbank LLP and Covington & Burling LLP served as legal counsel to Peraton. Latham & Watkins LLP served as legal counsel to the Vantage Fund.

About Peraton
Peraton drives missions of consequence spanning the globe and extending to the farthest reaches of the galaxy. As the world’s leading mission capability integrator and transformative enterprise IT provider, we deliver trusted and highly differentiated national security solutions and technologies that keep people safe and secure. Peraton serves as a valued partner to essential government agencies across the intelligence, space, cyber, defense, civilian, health, and state and local markets. Every day, our employees do the can’t be done, solving the most daunting challenges facing our customers. Visit Peraton.com/News and follow Peraton on LinkedIn for news and updates.

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About Veritas Capital
Veritas is a longstanding technology investor with a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the healthcare, national security, software, education, aerospace & defense, government services, communications, and energy industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means.

Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to Veritas. We are proud stewards of national assets, helping to improve the quality of healthcare while reducing cost, advance our educational system, and protect our nation and allies. For more information, visit www.veritascapital.com.

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SOURCE Peraton