In conjunction with the closing of its acquisition of Global Defense Technology & Systems (GTEC) yesterday, the private equity firm Ares Management has changed the name of the company to Sotera Defense Solutions, Inc.
Sotera is a term based on Greek mythology and represents the spirit of safety, preservation and deliverance from harm, the company said.
Ares acquired GTEC for $315 million in cash, including the assumption of debt and transaction expenses.