Peraton to acquire innovative IT solutions provider Solers Inc.
Category: #business  By Mateen Dalal  Date: 2019-06-18
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Peraton to acquire innovative IT solutions provider Solers Inc.

Virginia-based Peraton, a defense and intelligence contractor owned by private equity firm Veritas Capital, reportedly announced that it has signed a definitive agreement to acquire Solers Inc., a leading provider of software development and cybersecurity engineering, system integration for space situational awareness and cloud-based solutions.

As per trusted sources, the acquisition will assist Peraton to accelerate its near- and long-range growth opportunities especially in the space domain. It will also enhance the ability of the company to deliver space protection and resiliency solutions that support critical mission and national security objectives.

Stu Shea, President and CEO, Peraton, was reportedly quoted stating the Solers acquisition represents a crucial step in the execution of the company’s growth strategy and serves as a multiplier for the company and its customers. Some of the most established and innovative ground operations and space protection technologies have been brought together by the latest acquisition which will help Peraton to significantly improve its ability to work on crucial missions of customers.

For the record, investment banking company KippsDeSanto represented Solers Inc. as its financial advisor, while Macquarie Capital acted as the financial advisor to Peraton.

David Kellogg, President and CEO, Solers reportedly stated that the Solers-Peraton alignment is a strategic fit and that the combined companies will continue to carry the Solers trademark of high-quality support to the government clients. Through the combination with Peraton, the customers will have access to enhanced technologies which will be available to address their critical mission objectives and the newly added employees will benefit from the expanded growth opportunities, he further added.

Additionally, Ramzi Musallam, CEO and Managing partner, Veritas Capital also stated that the acquisition of Solers will enhance the company’s presence in the emerging space and communications market. The companies together will create a platform strengthening Peraton’s ability to provide mission critical services and solutions for their diverse customer base, Musallam further added.

As per trusted sources, financial details related to the deal have not been disclosed so far.

 

Sources: https://www.peraton.com/peraton-to-acquire-solers-inc/

https://spacenews.com/peraton-acquires-cloud-services-satellite-ground-systems-provider-solers/

https://www.solers.com/corporate/

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About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

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