M&A Activity

Voyager Takes Stake in XO Markets for Commercial Space Market Push; Dylan Taylor Quoted

Dylan Taylor Chairman

Voyager Space Holdings has completed its majority investment in X.O. Markets, the parent company of small satellite deployment system provider Nanoracks, to establish a footprint in the commercial space services market. Denver-based Voyager said Tuesday the move is part of efforts to position itself to offer an integrated space exploration platform that could support various missions.

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Booz Allen to Acquire Liberty IT Solutions for $725M; Baird’s John Song Comments

John Song Managing Director Baird

Booz Allen Hamilton announced Tuesday that it has entered into an agreement to acquire Liberty IT Solutions for $725 million in an effort to strengthen the former's digital solutions capabilities and improve the its ability to work with strategic industry partners to help clients adapt and transform. "Liberty IT has been extremely successful in helping to operationalize Salesforce within federal market so it’s not difficult to see why this transaction makes sense for Booz Allen,” said John Song, managing director at Baird, which serves as Liberty’s exclusive financial adviser.

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SAIC to Acquire Koverse to Advance AI, Analytics Capabilities; Nazzic Keene Quoted

Nazzic Keene CEO SAIC

Science Applications International Corp. (SAIC) has entered into an agreement with Koverse to acquire the company in a move to expand SAIC’s software portfolio into full-stack AI with the ability to tackle the challenge of organizing structured and unstructured data from multiple sources. The terms of the acquisition have yet to be disclosed. 

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Maximus to Acquire Veterans Evaluation Services Parent for $1.4B; Bruce Caswell Quoted

Bruce Caswell President and CEO Maximus

Maximus has agreed to purchase Veterans Evaluation Services' (VES) parent company for $1.4 billion in support of its long-term corporate strategy for revenue growth and ongoing strategic priority of expanding footprint in the U.S. federal market. The acquisition, which is subject to U.S. antitrust filing requirements and customary closing conditions, is expected to close during Maximus' third fiscal quarter, the company said Wednesday.

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Cubic Board OKs $3B Amended Acquisition Agreement With Veritas, Evergreen

Cubic

Cubic Corporation announced on Wednesday it has accepted a proposal from Veritas Capital and Evergreen Coast Capital to increase the price per share of their pending acquisition of Cubic to $75.00 per share in cash. By accepting the proposal, Cubic has entered into an amended agreement with Veritas and Evergreen. The all-cash transaction will be valued at approximately $3 billion. 

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Accenture to Purchase Cygni in Enhanced Cloud First Services Push; Karthik Narain Quoted

Karthik Narain Cloud First Global Lead Accenture

Accenture said Monday it has entered into an acquisition agreement with Cygni in an effort to enhance the global capabilities of Accenture Cloud First. Cygni is a cloud-native full-stack development firm that provides a broad range of information technology (IT) services. According to Accenture, the terms of the transaction have not been disclosed. 

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BAE Acquires Electronics Developer Pulse Power and Measurement

BAE Systems

BAE Systems has acquired Pulse Power and Measurement (PPM), a developer and manufacturer of high-end electronics, in an effort to enable BAE to further advance its strategic objective to develop and grow its capabilities in secure systems and information exploitation. “Pulse Power and Measurement Limited and BAE Systems are an excellent fit," said Ian Muldowney, COO and engineering director, BAE Systems' Air Sector.

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Jacobs Completes Purchase of 65% Stake in PA Consulting; Steve Demetriou Quoted

Steve Demetriou Chair

Jacobs has completed a transaction with PA Consulting through which it secured a 65 percent stake in the U.K.-based management consulting company. The investment placed an enterprise value of $2.5 billion to PA Consulting and the move is expected to drive Jacobs' growth strategy as a leading technology-enabled solutions provider. The purchase was approved by PA employees and shareholders, with 99.9 percent voting in favor of the partnership.

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CAE Signs $1B Deal for L3Harris’ Military Training Unit; Marc Parent Quoted

Marc Parent President

CAE has agreed to buy the military training segment of L3Harris Technologies for approximately $1.05 billion in a strategy to access multiple programs aimed at preparing U.S. warfighters for aircraft and weapon system operations. Montreal-based CAE said Monday it expects to close the transaction in the second half of this year. Marc Parent, president and CEO of CAE, said the company aims to accelerate its growth strategy in the defense and security space through the acquisition and expand its U.S. market presence.

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