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Following the completion of the all-stock merger between Vectrus and Vertex that resulted in the establishment of V2X, Chuck Prow, CEO of the new and more diversified company, engaged in a Q&A with GovCon Wire to share the early discussions about the combination and to expound on the rationale behind the transaction. The eight-time recipient...
V2X (NYSE: VVX), the new company formed out of the merger between Vectrus and Vertex, will support logistics operations at Fort Benning in Georgia under a $264.9 million contract modification from the U.S. Army. The award falls under the Enhanced Army Global Logistics Enterprise procurement vehicle and includes initial obligated funds amounting to $...
Vectrus has closed its all-stock merger with The Vertex Company to form a new government services provider that will be known as V2X and has an estimated pro forma annual revenue of $3.4 billion. Both companies announced the transaction March 7, saying the combination looks to grow across the GovCon market areas of operations and...
Shareholders at Vectrus (NYSE: VEC) approved Wednesday the company’s proposed combination with Vertex and both parties expect the transaction to close in the third quarter of 2022. The combined entity will adopt the name V2X and trade on the New York Stock Exchange under the ticker symbol “VVX” upon the deal’s closing, Vertex said Wednes...
Independent proxy advisory firms Glass Lewis & Co. and Institutional Shareholder Services recommended in their respective reports that shareholders of Vectrus (NYSE: VEC) vote in favor of all proposals related to the planned combination with Vertex during a special meeting to be held on June 15. Chuck Prow, CEO of Vectrus and an eight-time Wash1...
Chuck Prow, CEO of Vectrus (NYSE: VEC) and an eight-time Wash100 winner, attributed the 5.2 percent year-over-year growth in the company’s fiscal 2022 first-quarter revenue partly to its continued phase-in work under the U.S. Army’s Logistics Civilian Augmentation Program V. The Colorado Springs-based government services contractor said ...
Ken Hunzeker, former president and CEO of Vectrus (NYSE: VEC), has joined the board of directors for SparkCognition‘s subsidiary that develops artificial intelligence technology for government and national defense applications. The retired Army lieutenant general will serve on the board of SparkCognition Government Systems, where he brings mor...
The Department of Defense has selected Vectrus (NYSE: VEC) to complete application development work for a 5G-based warehouse project at Naval Base Coronado in San Diego. An assessment team for the NBC 5G Smart Warehouse project evaluated applications from Vectrus and two other companies as part of a down-select process during the initial phase and...
Vectrus (NYSE: VEC) saw its full 2021 revenue increase 28 percent to $1.78 billion and reported $419.4 million in sales for the fourth quarter of 2021, up 18 percent from the prior-year period. The Colorado Springs, Colorado-based government services contractor said Monday it ended the year with a total backlog of $5 billion, of which...
Vectrus (NYSE: VEC) has received a $250 million cost-plus-fixed-fee task order from the U.S. Army to perform logistics support work for Fort Benning in Georgia. The award falls under the Enhanced Army Global Logistics Enterprise contract and includes options that would extend services through December 2026, the company said Tuesday. Chuck Prow, pres...
