Veritas Capital

October 13, 2010 by staff 

Veritas Capital, New York private equity firm will buy Lockheed Martin Corp., Enterprise Integration Group, which is based in Valley Forge, and to 815 million.

Veritas Capital, which acquired the activities of others in the defense sector and government, called the agreement “a unique and exciting.” The transaction should be finalized by the end of the year.

The Enterprise Integration Group generated revenue of 626 million for the 12 months ended June 30. It has about 1,800 employees; approximately 700 are in the Philadelphia area.

In June, Lockheed Martin announced its intention to sell the company to avoid potential conflicts of interest of new regulations for military contractors.

The Enterprise Integration Group provides systems engineering and integration support to the intelligence community of the United States.

In a statement, Veritas said it had no plans to make changes in the management or operation of the company, which is headed by William L. Graham, its director general.

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