Jane Edwards
Veritas Capital has completed its purchase of CAES Space Systems and changed the name of the acquired business to Frontgrade Technologies to reflect its objectives of creating technology platforms that support national security and addressing engineering challenges facing clients.
Mike Elias, formerly senior vice president and general manager for the space division at CAES, will oversee Frontgrade Technologies as CEO through the company’s current headquarters in Colorado Springs, Colorado, Veritas said Tuesday.
Frontgrade Technologies has over six decades of space flight heritage and is focused on producing radiation-hardened electronic products and subsystems intended for space operations.
Elias said the new name seeks to demonstrate its commitment to delivering reliable products to customers and advancing technological innovation.
“We are excited to partner with the Frontgrade team, bringing our significant government technology experience to the Company’s storied heritage and mission-critical product offering to accelerate growth and enhance Frontgrade’s value proposition to customers,” commented Ramzi Musallam, CEO and managing partner of Veritas and a seven-time Wash100 Award winner.
In October 2022, Veritas agreed to acquire the space systems division of CAES for an undisclosed sum.
