Schulte is advising Veritas Capital in its acquisition of the federal IT and mission support services business of global aerospace and defense technology company Northrop Grumman for $3.4 billion in cash. At the close of the transaction, Veritas expects to combine the business with its portfolio company Peraton, a provider of highly differentiated space, intelligence, cyber, defense, homeland security and communications capabilities, to create a leading government mission capability integrator and IT provider focused on delivering high-end technology-enabled services. The deal was announced in December 2020 and is expected to close in the first half of 2021.
The Schulte team advising Veritas Capital is led by M&A and securities partner Richard Presutti and associate Lowell Dyer. The team also includes finance & derivatives partner Antonio Diaz-Albertini and employment & employee benefits partner Ian Levin.