M&A Deal Summary

Veritas Capital Acquires Gainwell Technologies

On March 10, 2020, private equity firm Veritas Capital acquired information technology company Gainwell Technologies from DXC Technology for 5.0B USD

Acquisition Highlights
  • This is Veritas Capital’s 6th transaction in the Information Technology sector.
  • This is Veritas Capital’s 3rd largest (disclosed) transaction.
  • This is Veritas Capital’s 29th transaction in the United States.
  • This is Veritas Capital’s 9th transaction in Virginia.

M&A Deal Summary
Date 2020-03-10
Target Gainwell Technologies
Sector Information Technology
Buyer(s) Veritas Capital
Sellers(s) DXC Technology
Deal Type Divestiture
Deal Value 5.0B USD

Target

Gainwell Technologies

Tysons Corner, Virginia, United States
website
Gainwell Technologies is an end-to-end provider of technology-enabled, mission-critical solutions that are fundamental to the administration and operations of health programs throughout the US. Gainwell Technologies is based in Tysons Corner, Virginia.

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Buyer(S) 1

Buyer

Veritas Capital

New York, New York, United States

website

Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.

DEAL STATS #
Overall 30 of 40
Sector (Information Technology) 6 of 8
Type (Divestiture) 15 of 18
State (Virginia) 9 of 10
Country (United States) 29 of 38
Year (2020) 3 of 3
Size (of disclosed) 3 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Anthology

Boca Raton, Florida, United States

Anthology is a provider of administrative software solutions to higher education, nonprofit organizations, and other learning industries. Anthology's product suite includes student information systems, constituent relationship management, enterprise resource planning, student and alumni engagement, retention, and compliance solutions. Anthology was founded in 1988 and is based in Boca Raton, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-07 Edcentric

Overland Park, Kansas, United States

Edcentric is a SaaS provider of engagement, planning, assessment & compliance solutions to higher education institutions. Edcentric is based in Overland Park, Kansas.

Sell -

Seller(S) 1

SELLER

DXC Technology

Ashburn, Virginia, United States

website

Category Company
Sector Information Technology
Employees130,000
Revenue 16.3B USD (2022)
DESCRIPTION

DXC Technology is an end-to-end IT services company, serving nearly 6,000 private and public sector clients from a diverse array of industries across 70 countries. The company's technology independence, global talent and extensive partner network help clients harness the power of innovation to thrive on change and guide their digital transformation journeys.

DEAL STATS #
Overall 8 of 12
Sector (Information Technology) 4 of 6
Type (Divestiture) 7 of 11
State (Virginia) 3 of 4
Country (United States) 8 of 10
Year (2020) 1 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-08 Virtual Clarity

London, United Kingdom

Virtual Clarity Ltd. is a provider of IT-as-a-Service (ITaaS) transformation advisory services with a decade of experience in solving large scale IT modernization and application migration challenges for clients in the world’s most demanding, mission-critical environments. Virtual Clarity Ltd. was founded in 2008 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-20 DXC Technology - Healthcare Provider Software Business

Virginia, United States

DXC Technology Co.'s Healthcare Provider Software Business is an open digital health platform that helps improve care outcomes by delivering contextual and actionable insights across the healthcare ecosystem.

Sell $525M
Mergr

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