Perspecta Buys Knight Point For $250 Million In First Acquisition

‘This is a great first acquisition for Perspecta that fits within our capital allocation model and strengthens our capability set,’ Chantilly, Va.-based Perspecta President and CEO Mac Curtis says in a statement.

Perspecta, the DXC Technology spin-off that was formed last year, has just completed its first acquisition: the $250 million purchase of solution provider Knight Point Systems.

“This is a great first acquisition for Perspecta that fits within our capital allocation model and strengthens our capability set,” Chantilly, Va.-based Perspecta President and CEO Mac Curtis said in a statement. “We consider Knight Point to be complementary to Perspecta's culture and offerings, while accelerating our growth strategy.”

Perspecta did not respond to a request for comment.

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Reston, Va. based Knight Point Systems came in at No. 184 on the 2019 CRN Solution Provider 500 and has appeared annually on the list since at least 2016.

Knight Point describes itself as an end-to-end managed services and solutions provider that is focused on modernizing IT, protecting critical networks and driving digital transformation.

Knight Point CEO Bob Eisiminger praised the deal as a win for all of Knight Point’s stakeholder. Knight Point said it has the products and personnel that can bring solutions to bear in cloud, cybersecurity and agile DevSecOps environments.

"As we looked for opportunities to grow our business, it became evident that the scale, strategy and compelling growth engine offered by Perspecta was the perfect home for our company, customers and employees," Eisiminger said in a statement. “It was so important to me that we identify a company that will value our employees and honor our mission to successfully serve federal agencies. I am completely confident that moving forward with Perspecta was the right decision on every level."

In June 2018, Perspecta was spun off from DXC’s $2.9 billion public services business then called USPS. It then merged with $1.2-billion government consultant Vencore and $300-million government background check service provider KeyPoint. The company that emerged is one of the five largest pure-play U.S. government solution providers, DXC said.