Perspecta Weighs Strategic Options Including Sale

(Bloomberg) -- Perspecta Inc., a provider of information technology services to public sector agencies, is considering strategic options including a possible sale, according to people with knowledge of the matter.

The company is working with advisers, said the people, who asked to not be identified because they weren’t authorized to speak publicly. Perspecta is expected to attract interest from rivals and private equity firms, the people said.

A representative for Perspecta declined to comment.

Perspecta shares climbed as much as 20% to $23.60 in New York on Monday, the biggest jump since March. The stock closed up 14% at $22.42, giving the Herndon, Virginia-based company a market value of $3.6 billion.

Activist investor Jana Partners disclosed a 5.9% stake in Perspecta in June, saying that it may seek talks on ways to increase shareholder value. The firm has since boosted its stake to 8.6%, according to filings.

Perspecta was created in 2018 when DXC Technology Co. -- itself a spinoff from Hewlett Packard Enterprise Co. -- spun off its U.S. public sector business and was combined with Vencore Inc. and KeyPoint Government Solutions. The company, which has about 14,000 employees, helps U.S. government customers at federal, state and local level, offering services including investigative services and IT strategy, according to its website.

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