Amentum Holdings LLC has acquired PAE in a deal valued at $1.9 billion. PAE has business segments including synthetic training, sensor-based technologies, intelligence, cyber and IT and other government services.
“The acquisition of PAE complements Amentum’s growth into intelligence and technology services, deepens its relationship with key agencies such as the Department of State, NASA and the Intelligence Community, and meaningfully adds to Amentum’s scale, depth of client relationships and breadth of capabilities,” said John Vollmer, CEO of Amentum.
Cravath, Swaine & Moore LLP acted as legal counsel and Arnold & Porter Kaye Scholler LLP acted as government contract counsel to Amentum. Morgan Stanley & Co. acted as financial advisor to PAE with Raymond James & Associates providing fairness opinions. In addition, Goodwin Proctor LLP, Morgan, Lewis & Bockius LLP acted as legal counsel to PAE.