Stu Shea, Peraton
Veritas Capital portfolio company Peraton has entered into a definitive agreement to acquire software development and systems integration provider Solers, Inc.
Solers operates in space situational awareness, satellite ground systems and operations, cybersecurity engineering and enterprise cloud-based solutions.
“The acquisition of Solers represents an important step in the execution of our growth strategy and serves as a true force multiplier for Peraton and our customers,” said Stu Shea, chairman, president and CEO of Peraton. “By bringing together some of the most proven and innovative space protection and ground operations technologies in the industry, we will be able to significantly enhance our ability to execute on our customers’ critical missions. I’m excited to welcome the talented Solers team to Peraton, strengthening our already robust space portfolio, technical excellence and rapid innovation capabilities.”
Leaders said the acquisition will provide more growth opportunities for the combined company and enhance capabilities in space protection and resiliency solutions aimed at mission objectives and national security initiatives. Peraton will be able to expand its offerings of agile end-to-end solutions for national security and civilian agency space and ground programs.
“The Solers/Peraton alignment is truly a strategic fit, and I have full confidence that the combined companies will continue Solers trademark high quality support to our government clients,” said David Kellogg, president and CEO of Solers. “Through our combination with Peraton – a company with whom we have many shared values – our customers will have access to some of the best people and technologies available to address their critical missions, and our employees will benefit from greatly expanded growth opportunities as part of this new company.”
Ramzi Musallam, CEO and managing partner of Veritas Capital, said the move will accelerate the company’s presence in the emerging space and communications markets.
“This combination will create a differentiated platform, strengthening Peraton’s ability to provide mission-critical services and solutions to its dynamic customer base,” Musallam said.
Investment bank KippsDeSanto was the financial adviser to Solers for this acquisition. Macquarie Capital acted as financial advisor to Peraton.
