V2X offers integrated solutions to cater to defence, national security, civilian, and international customers. Credit: ArmyAmber from Pixabay

Vectrus and The Vertex Company have closed merger transaction to form a combined entity V2X.     

The company currently trading as ‘VEC’ on New York Stock Exchange will trade under the new ticker symbol ‘VVX’ from 8 July.    

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

As per the transaction, former Vertex stockholders own nearly 62% of V2X, while Vectrus shareholders own 38% on a fully diluted basis.

Further, Vertex shareholders secured over 18.6 million shares of Vectrus common stock.

The latest transaction has established the new company as a key mission solutions provider to support global defence customers.

V2X chief executive officer Chuck Prow said: “Through this transformative combination, we created a company with the scale and ability to compete for large integrated business opportunities by providing full life-cycle support across the converged environment.”

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

The combined entity will have 11 members on its Board of Directors. While six members are continuing directors designated by Vectrus, five have been appointed by Vertex. Mary Howell will be the board chairman.

While Goldman Sachs & Co served as exclusive financial advisor, Skadden, Arps, Slate, Meagher & Flom and Covington & Burling acted as legal counsels to Vectrus.

Ernst & Young and Wolf Den Associates also contributed as Vectrus’ advisors.

Meanwhile, Vertex has RBC Capital Markets, and Evercore as its financial advisors.

V2X, as a diversified company, offers integrated solutions in the fields of logistics, aerospace, training and technology to cater to national security, defence, civilian and international customers.

The new company plans to provide second half 2022 guidance after releasing its second quarter financial results on 9 August this year.

Caption

V2X offers integrated solutions to cater to defence, national security, civilian and international customers. Credit: ArmyAmber from Pixabay.

Image url

https://cdn.pixabay.com/photo/2012/10/10/18/08/vehicle-60763_960_720.jpg

Link

https://www.prnewswire.com/news-releases/vectrus-and-vertex-complete-combination-establishing-v2x-as-a-leading-provider-of-critical-mission-solutions-globally-301580493.html

Army Technology Excellence Awards - Nominations Closed

Nominations are now closed for the Army Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact across the defence sector.

Excellence in Action
Virtualitics has clinched both the Innovation and Business Expansion awards for its Integrated Readiness Optimization (IRO) AI suite, transforming maintenance, sustainment and operational decision-making across the US DoD. Discover how explainable AI and predictive insights are redefining mission readiness, risk management and joint-force efficiency.

Discover the Impact