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Business/Financial

Veritas Completes $3.4 Billion Acquisition Of Northrop Grumman’s IT Business

By Cal Biesecker

Monday, February 1st, 2021

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Veritas Completes $3.4 Billion Acquisition Of Northrop Grumman’s IT Business

Former Peraton Chairman, President and CEO Stu Shea. Photo: Peraton

Veritas Capital on Monday said it has completed its $3.4 billion acquisition of Northrop Grumman’s [NOC] government information technology (IT) services business, which will be combined with its portfolio company Peraton to make it a top-tier federal technology and services company. Northrop Grumman said it expects to use the sale proceeds mainly to repurchase shares to offset dilution from the transaction and for debt retirement. Northrop Grumman on Monday said it has entered into an accelerated share repurchase agreement with…

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