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A growing U.S.-based aerospace company with an Ottawa presence has received a $50-million contract extension to provide engineering support and equipment to Canada’s fleet of CF-18 fighter jets.
Virginia-based Peraton announced the contract extension Tuesday. The firm provides logistics support to various systems on CF-18s as part of a long-term contract with the Department of National Defence and the Canadian Armed Forces that is valued at nearly $400 million.
“We look forward to continuing this valuable partnership and delivering the highest standards in maximizing fleet availability in support of Canada’s mission,” Greg Nelson, acting director of Peraton Canada, said in a statement.
By Ross Wilkers
May 10, 2021
Four months on from the initial announcement, private equity firm Veritas Capital has completed its acquisition of Perspecta and merged that company into portfolio government technology firm Peraton.
Peraton now doubles in size to approximately $7 billion in annual revenue nearly three months after the company absorbed the former Northrop Grumman IT services business. That deal alone tripled Peraton’s scale to $3 billion-plus in pro forma annual sales at the time excluding Perspecta.
Nearly three-fourths of Perspecta s stockholders approved the sale of the company on Wednesday, which was the final hurdle to clear in closing the deal. Veritas held 11.7 percent of the stock before moving to acquire the whole and combine it with Peraton.
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