“Mac Curtis, the president, chairman and CEO of Chantilly-based federal IT contractor Perspecta Inc., plans to retire this year and will be replaced by the head of Peraton Inc., the Herndon-based national security contractor that is acquiring Perspecta, according to documents filed with the U.S. Securities and Exchange Commission.”
“In an undated letter to employees, Curtis announced he will retire after Peraton closes on its $7.1 billion all-cash acquisition of Perspecta, announced on Jan. 27 and expected to occur during the first half of 2021. Peraton Inc. Chairman, President and CEO Stu Shea will oversee the combined companies, which will retain the Peraton name, according to a second letter filed with the SEC on Feb. 2 by Ramzi Musallam, CEO and managing partner of private investment firm Veritas Capital, Peraton’s parent company.”
“’There have been many questions about my role going forward,’ Curtis wrote to Perspecta staff members, ‘so I’d like to address the speculation directly and share some personal news with you. It is my intent to retire after this transaction closes. This is not a goodbye note in any way — there is much important work still to do! I felt it was important to share this decision so rumors do not distract us at this crucial time. Serving as Perspecta’s chairman and CEO has been the honor of my lifetime. I will remain your leader, champion and voice as we navigate through this intricate process together.’”
“Veritas Capital has been an investor in Perspecta since its June 2018 founding as a publicly traded company — the result of a three-way merger between Vencore Holding Corp., KeyPoint Government Solutions and the U.S. public sector business of DXC Technology. Veritas Capital held 14.5% of Perspecta’s shares before Peraton’s purchase announcement and has had a long relationship with Curtis, who has led three companies partly owned by the firm. Prior to leading Perspecta, Curtis was Vencore’s president and CEO.”
“At the beginning of February, Peraton closed its $3.4 billion acquisition of Northrop Grumman Corp.’s federal IT and mission support services business, and a few days later Peraton announced it was restructuring the company into four sectors led by four presidents: Space & Intelligence, Cyber Mission, Global Defense & Security and Civil & Health…” Read the full article here.
Source: Perspecta CEO Mac Curtis retiring; Peraton CEO Stu Shea taking reins – By Kate Andrews, February 12, 2021. Virginia Business.
Perspecta was named to the list of NXT UP firms poised to make big waves in the Federal sector in 2020 and for years to come.
