The purchase cost Perspecta $250 million (subject to purchase price adjustments) and the transaction is set to be accretive to fiscal year 2020 adjusted earnings per share, excluding one-time transaction costs.
“I am pleased to welcome all Knight Point employees and customers to the Perspecta team,” said Mac Curtis, president and CEO of Perspecta. “We are impressed by Knight Point’s deep customer intimacy, rich legacy of innovation, patented IP and delivery of IT and cyber managed services programs to customers such as the Departments of Defense and Homeland Security.”
Knight Point is an end-to-end managed services and solutions provider focused on modernizing IT, protecting networks and digital transformation. The company specializes in cloud, cybersecurity and agile DevSecOps environments, and provides an as-a-service model to help customers acquire and scale technology services.
“This is a great first acquisition for Perspecta that fits within our capital allocation model and strengthens our capability set,” Curtis added. “We consider Knight Point to be complementary to Perspecta’s culture and offerings, while accelerating our growth strategy.”
And according to Knight Point CEO Bob Eisiminger, as he looked for opportunities to grow the company’s business, Perspecta offered the scale, strategy and growth engine the company, its customers and employees wanted.
“It was so important to me that we identify a company that will value our employees and honor our mission to successfully serve federal agencies,” Eisiminger said. “I am completely confident that moving forward with Perspecta was the right decision on every level.”