Perspecta (NYSE: PRSP) has completed its $250M acquisition of Knight Point Systems. The purchase seeks to expand Perspecta's cloud, cyber, digital transformation and enterprise IT offerings intended to help modernize and transform government mission delivery, the company said Thursday. Baird served as the exclusive financial adviser to Knight Point Systems on the transaction.
Perspecta had the strategic foresight in its acquisition of Knight Point – recognizing the emergence of new business models for the government by way of managed services as well as the importance of leverageable IP to help enable the delivery of the company’s services.
"I am pleased to welcome all Knight Point employees and customers to the Perspecta team," said Mac Curtis, president and CEO of Perspecta and 2019 Wash100 Award recipient. "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,” he added.
The $250M purchase price is subject to adjustments. The transaction is expected to be accretive to fiscal year 2020 adjusted earnings per share excluding one-time transaction costs.
Knight Point is an end-to-end managed services and solutions provider focused on modernizing IT, protecting critical networks and driving digital transformation. The end-to-end "as a service" model revolutionizes the way customers acquire, scale, monitor as well as maintain technology and services. The company's unique managed services delivery frameworks drive customer transparency and operational excellence, while providing rapid and efficient solution delivery.