Perspecta

Perspecta Inc. was an American government-services and information-technology company headquartered in Chantilly, Virginia. It operated primarily as a contractor to the United States federal government, supporting defense, intelligence, civilian-agency, and national-security missions. Its work included enterprise information technology, cloud migration, software development, systems integration, data and personnel-management support, help-desk operations, training, quality assurance, and other mission-critical services. The company was created in 2018 through the combination of the United States public-sector business spun out of DXC Technology with Vencore Inc. and KeyPoint Government Solutions. The transaction assembled several established government-contracting capabilities under a new corporate identity. Vencore contributed expertise in defense, intelligence, and engineering services, while KeyPoint brought federal investigative and background-screening capabilities. Perspecta consequently entered the market with a large installed base of government relationships and a broad portfolio rather than as a newly established technology startup. Veritas Capital became a significant investor at the time of the formation, acquiring a 14.5 percent stake. The private-equity firm's involvement placed Perspecta within a broader government-services investment strategy and later became central to the company's ownership transition. In 2019, Perspecta expanded through the acquisition of Knight Point Systems for $250 million. Knight Point added capabilities in information technology modernization and government mission support. Perspecta's commercial model depended heavily on long-term federal contracts, task orders, contract extensions, and recompete opportunities. In 2019, it won an $824 million contract with the National Geospatial-Intelligence Agency and secured a $657 million extension to an information-technology services contract for the United States Navy. These awards illustrated the company's emphasis on large, recurring government programs rather than consumer products or conventional commercial software licensing. In February 2021, Perspecta announced a potential five-year, $38 million award to continue supporting the Department of Defense Defense Manpower Data Center. The work covered contractor-management support and services intended to help defense decision makers monitor personnel, training, and security issues associated with humanitarian and peacekeeping missions. The planned scope included cloud migration, software development, quality assurance, round-the-clock help-desk support, and training. During 2021, the company also signed a $437 million contract with the Department of Defense. Perspecta's independent existence ended later in 2021. Its shareholders approved a merger agreement under which they would receive $29.35 per share, and Peraton, which was owned by Veritas Capital, acquired the company in a transaction valued at approximately $7.1 billion. At the time of the merger, Perspecta had approximately 14,000 employees and reported 2020 revenue of about $4.5 billion. Chief executive and president Mac Curtis did not transfer to Peraton after the sale. The Perspecta name therefore represents a relatively short-lived but substantial government-technology platform that was absorbed into Peraton rather than continuing as an independent brand.

Perspecta was formed in 2018 as a government-services company assembled from three principal components: the United States public-sector business spun out of DXC Technology, Vencore Inc., and KeyPoint Government Solutions. The combination created a sizable federal contractor with capabilities spanning information technology, defense and intelligence support, engineering, investigations, and mission operations. Rather than building a portfolio organically from a small base, Perspecta began with established contracts, personnel, and customer relationships across the federal government. Veritas Capital became an investor during the company's formation and acquired a 14.5 percent stake. Its participation reflected the importance of private-equity ownership in the consolidation of the government-technology sector. Perspecta's customers were primarily federal departments and agencies, making its growth dependent on contract awards, extensions, task orders, and successful performance on large mission programs. The company pursued expansion in 2019 by acquiring Knight Point Systems for $250 million. This added further federal information-technology and modernization capabilities. During the same year, Perspecta won an $824 million contract with the National Geospatial-Intelligence Agency and obtained a $657 million extension to an information-technology services contract for the United States Navy. The awards strengthened its position in defense and intelligence-related technology services and demonstrated the scale of its target programs. Perspecta continued to compete for large federal assignments in 2021. In February, it announced a potential five-year, $38 million contract to support the Department of Defense Defense Manpower Data Center. The proposed work included contractor-management support, cloud migration, software development, quality assurance, continuous help-desk operations, and training. The program was also intended to provide defense decision makers with information concerning personnel, training, and security connected with humanitarian and peacekeeping missions. The company separately signed a $437 million Department of Defense contract during 2021. Perspecta's corporate history ended in the same year. Shareholders voted to approve a merger agreement providing $29.35 per share, and Peraton acquired the company in a transaction valued at approximately $7.1 billion. Peraton was owned by Veritas Capital, linking the buyer to Perspecta's principal financial sponsor. At the time of the transaction, Perspecta employed approximately 14,000 people and had 2020 revenue of about $4.5 billion. Mac Curtis, who served as president and chief executive officer, did not move to Peraton after the acquisition. Perspecta was consequently absorbed into Peraton and became a defunct independent company.

1. 2021Defense Manpower Data Center support award announced

   Perspecta announces a potential five-year, $38 million Department of Defense award for contractor-management and related technology services.

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2. 2021Acquisition by Peraton

   Peraton acquires Perspecta for approximately $7.1 billion after shareholders approve consideration of $29.35 per share.

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3. 2019Knight Point Systems acquisition

   Perspecta acquires Knight Point Systems for $250 million to expand its government information-technology capabilities.

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4. 2019Major federal contract awards

   Perspecta wins an $824 million National Geospatial-Intelligence Agency contract and receives a $657 million extension for a Navy information-technology services contract.

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5. 2018Perspecta is formed

   Perspecta is created through the combination of DXC Technology's United States public-sector spin-off, Vencore, and KeyPoint Government Solutions.

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6. 2018Veritas Capital invests in Perspecta

   Veritas Capital becomes an investor and acquires a 14.5 percent stake in the newly formed company.

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A large-scale federal government technology and mission-services contractor focused on defense, intelligence, civilian-agency, and national-security programs.

• Federal information-technology servicesGovernment IT services2018

  Perspecta provided enterprise information-technology services to federal agencies, including systems integration, infrastructure support, application services, service management, and contract-based operational support. These offerings were delivered through large government programs rather than marketed as standalone consumer software products.

• Cloud migration and modernizationCloud and digital modernization

  The company supported government customers moving systems and workloads toward cloud environments and modernized technology architectures. Its announced Defense Manpower Data Center work included cloud migration alongside software development, quality assurance, help-desk operations, and training.

• Defense and intelligence mission supportDefense and national-security services2018

  Perspecta delivered technology, engineering, and operational support for defense and intelligence customers. Its contract portfolio included work for the National Geospatial-Intelligence Agency, the United States Navy, and the Department of Defense.

• Personnel and contractor-management supportGovernment data and mission support2021

  Perspecta supported federal personnel and contractor-management functions, including the Defense Manpower Data Center program. The associated services were intended to help Department of Defense decision makers understand personnel, training, and security conditions in specified missions.

• 2021Accept acquisition by PeratonM&A

  Perspecta and its shareholders entered into a merger agreement with Peraton, a Veritas Capital-owned government-services company.

  What changed. Shareholders approved consideration of $29.35 per share, enabling Peraton to acquire Perspecta for approximately $7.1 billion.

  Aftermath. Perspecta ceased to operate as an independent company and was integrated into Peraton. Mac Curtis did not transfer to Peraton after the sale.

  Transaction value. $7.1 billion (2021)

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• 2019Acquire Knight Point SystemsM&A

  Perspecta sought to expand its federal information-technology and modernization capabilities.

  What changed. The company acquired Knight Point Systems for $250 million.

  Aftermath. Knight Point Systems became part of Perspecta's government-technology portfolio.

  Acquisition value. $250 million (2019)

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• 2018Create a unified federal-services platformStrategy

  The United States public-sector business of DXC Technology, Vencore, and KeyPoint Government Solutions were combined to establish a larger government-technology contractor.

  What changed. Perspecta was launched as the common corporate platform for the combined businesses.

  Aftermath. The company began operations with an established federal customer base and capabilities across information technology, defense, intelligence, and investigative support.

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• 2021Perspecta announces potential Defense Manpower Data Center award

  Perspecta announced a potential five-year, $38 million Department of Defense award covering contractor-management support and related technology and training services.

  Other
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• 2021Perspecta signs $437 million Department of Defense contract

  The company signed a Department of Defense contract valued at $437 million.

  Other
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• 2021Perspecta shareholders approve Peraton merger

  Shareholders approved a merger agreement under which Perspecta shareholders would receive $29.35 per share, leading to the company's acquisition by Peraton.

  M&A
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• 2021Peraton completes acquisition of Perspecta

  Peraton, owned by Veritas Capital, acquired Perspecta in a transaction valued at approximately $7.1 billion, ending Perspecta's independent corporate existence.

  M&A
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• 2019Perspecta acquires Knight Point Systems

  Perspecta expanded its government information-technology portfolio through the acquisition of Knight Point Systems for $250 million.

  M&A
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• 2019Perspecta wins National Geospatial-Intelligence Agency contract

  The company received an $824 million contract from the National Geospatial-Intelligence Agency.

  Other
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• 2019Perspecta receives Navy information-technology contract extension

  Perspecta secured a $657 million extension for an information-technology services contract supporting the United States Navy.

  Other
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1. Perspecta Inc.