(Editor's note: This article has been updated to make clear Veritas is acquiring the unit.) Northrop Grumman said today it has agreed to sell its federal IT and mission support services business to private equity-firm Veritas Capital, which owns Peraton, for $3.4 billion in cash. The deal is slated to close in the first half of next year, and Northrop said it would use the sale proceeds for share repurchases, to offset dilution and for debt retirement. The business...
