Perspecta
Issues
(Updated Jan 4, 2025)
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On May 25, 2018, DXC spun out its 6,500-employee U.S. Public Sector Business
and merged it with 3,800-employee intelligence community contractor Vencore
and 3,700-employee background investigation firm KeyPoint to create
Perspecta.
PRSP was bought by privately-held Federal IT
contractor Peraton. Peraton paid
$29.35 cash in exchange for each Perspecta share -- a 49.7% premium
over last closing price before public reports.
PRSP shares have vanished from your account. Either cash was
paid into your brokerage cash account or a check was mailed by approx. 6/2/21.
Perspecta
had 14,000 employees. Peraton previously bought part of Northrop Grumman.
The resulting company had 22,000 employees -- 7,500 with Top Secret clearance.
VirginiaBusiness news story
new company structure
Stock info on the Perspecta spinoff from DXC.
hpalumni.org/StockPerspecta
HP Inc, Hewlett Packard Enterprise, DXC, and Perspecta/Peraton are
completely separate companies. Details:
HP Breakup
EDS alumni report that their original EDS hire date is mentioned in their HR records at
HP Inc, HPE, DXC, and Peraton.
Contacts:
-
Official contact
Information for Perspecta Employees (including Retirement Plan login)
-
Corporate "Contact Us"
page
ASAP Checklist
– what to do before losing access to company internal
systems and in the following few weeks. Supplements the
official checklists.
Stock and HPE
options
If you owned DXC shares on May 25, 2018, you were issued shares
in a new company called "Perspecta"
-- with corresponding adjustment in value of your DXC shares. (This is
not reflected in the HPAA's stock cost basis spreadsheets.)
Perspecta is a new company --
spinning off the 6,500-employee U.S. Public Sector Business of
DXC and merging
it with 3,800-employee intelligence community contractor
Vencore and
3,700-employee background investigation firm
KeyPoint.
Perspecta stock details
Which HP-related companies have me classified as a retiree or former employee?
Due to acquisitions and spinoffs, this may not be obvious. Check here:
Which Company
Employment verification and experience letters for
Hewlett-Packard, Hewlett Packard Enterprise, and related
companies.
Employment and Experience Verification
Related Companies. Member advice for people from
acquired or spinoff companies: DXC
EDS
Other acquisitions and spinoffs
Find out what the company is telling Wall Street about employment
prospects and strategic issues that will affect your career.
You can read the transcripts of the analyst conference calls at
https://perspecta.com/investor-relations
Perspecta's business and corporate history
From
Perspecta 10-K report filed June 2019:
Perspecta is a leading provider of end-to-end enterprise information
technology (“IT”), mission, and operations-related services across the
United States (“U.S.”) federal government as well as to certain state
and local government agencies...
History and Development
On May 31, 2018, Perspecta Inc. became an completely separate company through
the consummation of the spin-off of the DXC U.S. Public Sector (“USPS”)
business (the “Spin-Off”), and mergers with Vencore HC and KGS HC (the
“Mergers”). To effect the Spin-Off, DXC distributed all of the shares of
Perspecta common stock on a pro rata basis to the record holders of DXC
common stock (the “Distribution”). On June 1, 2018, Perspecta began
trading on the New York Stock Exchange under the ticker symbol “PRSP.”
Both Vencore HC and KGS HC were owned by affiliates of Veritas Capital
Fund Management, L.L.C. (“Veritas Capital”), a leading private equity
firm recognized for its in-depth knowledge and understanding of
government and technology-enabled end markets. Veritas Capital has
remained an investor in Perspecta.
Each of the three legacy companies that formed Perspecta has a rich
heritage and a strong set of capabilities:
• The USPS business of DXC dates back to 1962, when H. Ross Perot
founded Electronic Data Systems Corporation (“EDS”), a pioneer in IT
infrastructure, applications and business process outsourcing. EDS was
acquired by Hewlett-Packard Company in 2008, and later merged into DXC
in April 2017. [emphasis added]
• Vencore, Inc., now renamed Perspecta Engineering Services Inc. (“PES”),
traces its roots back to General Electric Company's aerospace division,
established in 1972 as The SI Organization Inc. (“The SI”) to enable the
National Reconnaissance Office (“NRO”) to create a comprehensive,
space-based national intelligence system. The SI was acquired by the
predecessor of Lockheed Martin Corporation (“Lockheed Martin”), the
Martin Marietta Corporation, in 1993 and sold to Veritas Capital in
2010. The SI rebranded as Vencore, Inc. after the acquisitions of
Applied Communication Sciences in 2013 and QinetiQ North America
Services and Solutions Group in 2014, which brought capabilities in
applied research and technology solutions, agile software development
for mission-critical systems, classified and commercial launch support,
spacecraft engineering and enterprise IT.
• The legacy of KeyPoint is Kroll Government Services, Inc. (“KGS”),
which was founded in 1995 to provide investigative due diligence and
independent investigation services for police departments. KGS expanded
to investigative support services for federal security and border patrol
agents for the Department of Homeland Security (“DHS”) in 2003 and the
National Background Investigation Bureau in 2004. In 2009, Kroll
Government Services was acquired by Veritas Capital and renamed KeyPoint
Government Solutions, Inc., which remains the largest provider of
background investigative services for the U.S. government.
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