Veritas acquires Pearson Government Solutions

On February 15, 2007, Veritas Capital Partners, a leading private equity firm focused on companies providing outsourcing services to government, announced it had completed the acquisition of Arlington, VA-based Pearson Government Solutions (PGS) from Pearson plc, the international media and education company. Under terms of the transaction, Veritas Capital paid $600 million of consideration and Pearson plc is retaining a minority interest in PGS, which has been renamed Vangent. Mark Stinson and Sean Morley of Fasken Martineau advised Pearson plc on Canadian aspects of the transaction.