Peraton on Monday said it has agreed to acquire Solers, Inc., a provider of software and systems integration for the space market, a deal that bolsters its capabilities and solutions offerings in this area.
Terms of the acquisition were not disclosed. Solers is an employee-owned firm based in Northern Virginia and has about 400 employees.
Solers helps advance Peraton’s capabilities in the growing space situational awareness, resiliency and protection market, a Peraton spokesman told Defense Daily. Their capabilities include applications for object behavioral pattern analysis, asset protection, search and discovery, and object custody maintenance.
“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, chairman, president and CEO of Peraton, said in a statement. “By bringing together some of the most proven and innovative space protection and ground operations technologies in the industry, we will be able to significantly enhance our ability to execute on our customers’ critical missions.”
Ramzi Musallam, CEO and managing partner of Veritas Capital, the private equity firm that owns Peraton, said in a statement that the Solers acquisition “will accelerate the company’s presence in the high-priority, emerging space and communications markets.” He said the deal will also strengthen “Peraton’s ability to provide mission-critical services and solutions to its dynamic customer base.”
Solers’ customers include the intelligence community, Air Force, Army, Navy, U.S. Cyber Command, the National Geospatial Intelligence Agency, National Oceanic and Atmospheric Administration, Justice Department, and more. The Peraton spokesman said that Solers supports NOAA’s Environmental Satellite Processing and Distribution System, which has helped improve weather prediction.
Peraton didn’t disclose Solers’ annual sales, but the company was a finalist for the 2017 Greater Washington Contracting Awards for sales in the $75 million to $300 million category, the spokesman said.
Peraton expects the anti-trust reviews for the pending acquisition to be fast-tracked.
Solers’ financial adviser on the deal is KippsDeSanto and Macquarie Capital is advising Peraton.