Firm News
The SI Organization Buys QinetiQ’s U.S. Services Division
May 27, 2014
SRZ represented Veritas Capital and its portfolio company The SI Organization Inc. (now known as Vencore Inc.) in The SI’s purchase of QinetiQ Group’s U.S. Services division for an initial cash consideration of $165 million plus a potential earnout of up to $50 million in cash. QinetiQ Group is a British multinational defense technology company that focuses on the global aerospace, defense and security markets. Vencore is a leading provider of full life cycle, mission-focused systems engineering and integration capabilities to the U.S. intelligence community, Department of Defense and other agencies. The deal, which was announced on April 22 and closed on May 27, 2014, expands Vencore’s coverage into adjacent markets in the Defense and Homeland Security departments as well as NASA and civilian agencies. Vencore acquired approximately 2,800 employees, including engineers, scientists and other professionals with mission-critical knowledge of defense, homeland security and NASA customers.
The SRZ team representing The SI Organization Inc. and Veritas Capital included environmental partner Howard B. Epstein; intellectual property, sourcing & technology special counsel Scott M. Kareff; employment & employee benefits associate Frank P. Sabatini, III; real estate partner Robert S. Nash; finance partner Ronald B. Risdon; tax partner Kurt F. Rosell and litigation partner Gary Stein.
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Alerts
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